It does. The technical implementation can have a lot of effect on the chilling effect of a law.
Let's take the extremes. If the technical implementation is "we'll send a drone to fire a missile at your building", people will be much more scared to take any risk at all of hosting user-generated content than if the implementation is "you'll get a warning and a $5 fine".
Everything considered, "We'll arrest you and everyone that works for your company and nuke your DNS entry" is pretty chilling. If they only punished bank misconduct that hard...
Let's take the extremes. If the technical implementation is "we'll send a drone to fire a missile at your building", people will be much more scared to take any risk at all of hosting user-generated content than if the implementation is "you'll get a warning and a $5 fine".
Everything considered, "We'll arrest you and everyone that works for your company and nuke your DNS entry" is pretty chilling. If they only punished bank misconduct that hard...