This is a bill that allows the US Legal system to effectively suspend or shut down valuable properties of non-US organisations without recourse.
Whether you consider Wikipedia as an IP thief or not, a bill like this could fundamentally shift the paradigm of net neutrality and it would not be long before other governments tried to re-assert control by creating their own version of a new fragmented web.
The US legal system and copyright owners would be even less able to assert their ownership in this environment.
This is a short-sighted blunt instrument that will immeasurably damage US business both in creative industries and technology industries.
The US has the privilege of running the web right now from which it benefits greatly. It should act carefully with that responsibility. Learn the lessons of GPS.