Jokes aside, I'm glad this was rejected. This was not only bad legislation that shouldn't pass but it also illustrates how the system can and actually does work. Despite all the largely uninformed people trashing the EU as self-serving bureaucrats and inscrutable globalist elites, the Parliament listened to its constituents and acted for the benefit of its people. For all the flack it gets for somehow being anti-democratic, here we have a supranational organization doing the right thing and not accepting this kind of legislation. Meanwhile, we see the USA scrap net neutrality despite bipartisan and enormous support in favor of it, and the UK retract its highly criticized Snooper's Charter on surveillance and possible anti-encryption only after European courts intervened despite there already being massive criticism and opposition by the public and experts.
We're not in the clear just yet but this is promising. The EU isn't without its flaws but it is without a doubt a great institution with massive accomplishments and better results than many actual governments.