I don't think so, since YouTube is operating their extrajudicial "go the extra mile for copyright holders" copyright claim system. It isn't required by law and this is what's being abused, not plain DMCA claims. For regular claimants, the regular (and free) DMCA system would still be in effect.
The bonus is that filing fraudulent DMCA claims has real legal repercussions under the law. I don't know if there's any real consequence for lying about copyright ownership to Google under their made-up claim system.
It isn't required by law, it's required by people who would sue the pants off it if it didn't kowtow to them.
Which is way scarier than something required by law. Law can be lobbied about and changed. Law has limits. Law can be ignored when you are rich and powerful.
Lawsuits from megacorps, on the other hand, cannot.
The bonus is that filing fraudulent DMCA claims has real legal repercussions under the law. I don't know if there's any real consequence for lying about copyright ownership to Google under their made-up claim system.