All Journalists are State-Owned

 Caveat: the bill hasn't finished passing yet. They're in the phase where they repeat the vote until the voters get it right, then stop. The terms are final: coercive tax funding of State media is being made official. Emphasis mine. https://archive.is/UpoaT 

Much like the Online News Act in Canada, and the News Media Bargaining Code in Australia, the JCPA would open up a state-mandated funnel of advertising revenue from Silicon Valley to the nation’s largest media conglomerates.

 Advertisers started opting out...so they're making it mandatory, lol. If they can do the velvet glove they will, but if they can't, ¯\_(ツ)_/¯ Freedom was never an option.

 Two important bottlenecks in the bill exclude new and independent media, such as podcasters, streamers, and online newsletter authors.

 The first bottleneck consists of licenses: any organization that wishes to form a media cartel or join an existing one must either be an “eligible broadcaster” with a license issued by the FCC

or possesses an International Standard Serial Number (ISSN) prior to the bill’s passage

 Adblock never mattered, as any shortage in voluntary tax would be made up for by involuntary taxes. It's merely an aesthetic improvement for individuals. 

In 2021, it was reported that Meta planned to pay over $1.5 billion to news companies over a half-decade, with little information disclosed on which companies received the payouts and in what amounts.

 More importantly: what for? In exchange for what service? Shareholders can sue for this. They won't, but they could. 

 Classic Keynesianism &c: Silicon Valley is going to be legislatively "forced" to do what they wanted to do anyway. Launder tax money for Pravda. Rather, they're already doing it, and legislation will retroactively justify the action. "You can't sue me for this, it's the law." "It wasn't the law in 2021." Judge: "Lol. Lmao, even. Get out of my court."

 

 If Americans demand State misinformation, the bill will work. If they want anti-journalism (reporting?) it won't.
 I suspect it's an overreach issue. The "pendulum" you hear about is the way parasitic black governments can't stop reaching beyond their grasp, then get smacked down and have to wait a bit. Currently we're in a "rightward" pendulum swing, due to the ongoing overreach. Americans are theocratic, but they're being pushed too hard by the new doxa and can't handle the pain. Need time to adjust.