That's not even half the picture. The
EFF provides a far more succinct picture than I can. The current Bills are a one, two hit.
SOPA, and
Protect IP serve the same functions as a blacklist via different mechanisms. I will try and explain them as plainly as I can.
SOPA attacks sites financially with only a 5 day window to respond regardless of the veracity of the claim or whether the notice as even been received. It doesn't matter if there is any real infringement going on, you stop receiving ad revenue or your shop can't take payment, your site is dead. The IP holders have shown time and again that they do not
care about standing laws on fair use nor
verify1 the claims they make and will pursue litigation at a drop of a hat.
Protect IP basically sends the government to handle what is normally a civil case and bear the cost, while exploiting government powers on IP holders behalf. While it has been modified so they won't mess with the DNSs anymore, the seizure component remains via unrelated government agencies like
ICE. It also attacks safe habour statuses of places like Youtube where it is much to big of a site to monitor and filter effectively. Given the language of the bill it will only take one link to another site for the shutdown process to begin. Even China with tens of thousands of people specifically employed by the government to manually filter and suppress, unsuccessfully, political dessent, how would even the smallest site with any user content be effective at making sure every single link is sanitised or the comments themselves are not infringing whether they be movie quotes, verses or lyrics.
In any event, the purpose of these bills is not to protect ip or anything of the sort. They are tools with which the large content providers would use to break down the internet into their respective content blocks like cable channels for their own profit and control. Imagine if the internet got broken up into a dozen AOL like nets, filled with only sites approved by that section's provider. What makes the internet useful and effective would be gone. The internet is one of the last places where there is a high level of free speech that cannot be easily suppressed that supersedes any nation that is still in the hands of the average person. I wouldn't trade it to any government even over the greatest of national security concerns, let alone hand it peacefully over to unaccountable corporations.
Anyone who trades liberty for security deserves neither liberty nor security - Benjamin Franklin
With these bills your not even trading your freedoms for your own security. As for your DoJ, they have no requirement to follow legal or ethical rules. You are very mistaken in your belief that "SOPA isn't as bad as what people make it out to be". They are written to be abused from multiple directions.
1I chose this since this is easily the most absurd notice served given the subject matter on the site in relation to the subject matter in the notice. The rest of the site is NSFW.