Yes, it's strange isn't it? But since the big media copyright lads want to go further than the DMCA, that would imply it was OK. And the USA has the DMCA now, how has the last 10 years been for internet freedom? Not too bad, so it probably wasn't that bad.
How much freer would the Internet have been if the DMCA had not been passed? Think of all the hours YouTube alone spends in policing itself and handling copyright takedown notices and imagine those hours spent improving YouTube or coming up with new video sharing services.
The current copyright regime is tolerable. Tolerable and good are worlds apart.