Given this is a lawsuit from the conservative telecom industry in a conservative justice system against policies that protect a largely ultra-liberal group (hollywood) I can see this going well for the telecoms.
What we want as individuals is for the policing to go away but that's not how the US works. Instead there will be some other kind of system devised to try and lock down media even further while keeping fines and enforcement responsibility away from the telecoms.
Maybe the IP holders will be granted unprecedented access as middlemen to monitor traffic and police it themselves, or maybe electronics will be required to be sold with special DRM mechanisms that require an authorized source of media, like they've been trying to inject everywhere for ages unsuccessfully.
Either way this lawsuit has no effect on me, or most people. Piracy that would lead to ISP action is avoided by proxies or VPN anyway, right? I can't imagine anyone allegedly acquiring illicit material not using one of those services.