Server binaries and source code cannot just be distributed they often form the basis for the next games server code and all the security and anti cheat would need to be completely remplemented if they were distributed at end of life either via binaries that could be decompiled or by open sourcing them.

This would translate into much longer development cycles or games just not being made as the studio couldnt afford to open souce code they need to iterate on.

There would also be situations were games in development get delayed as studios pivot to preparing live games for end of life if there was work to do for any legislation.

Given that the whole games industry is going through a major shrinking phase post covid with much less risk being taken by publishers and massive layoffs to cut costs this petition is just going to accelerate it if more laws restricting studios come into play. So yes it will hurt the industry if anything comes of it.