Jim Sterling, who has been the victim of malicious copyright claims on videos which are clearly fair use, has a good video on the implications of the policy: https://youtu.be/w-UgOXP82UI
I remember when Konami tried to silence Super Bunnyhop awhile back via DMCA abuse and Youtube stepped in, I'm glad to see that has in a way evolved into a proper policy, caveats be damned.