This law won't hurt Google, they have the necessary lawyers and resources to deal with the ramifications. What this will hurt are the smaller search engines that don't have the same resources as Google. This law, if enacted, will end up giving more power to Google not less. For example, with the German law, Google was given a free license [2], but was DuckDuckGo given a license? As far as I can tell no. So all that changed is that Google has a license and its competitors don't. I can't see how this is a good thing for anybody but Google. It hurts consumers, reduces market choice and will end up hurting publishers.
[0] - http://www.robotstxt.org/orig.html
[1] - https://support.google.com/webmasters/answer/6062608
[2] - https://the-digital-reader.com/2014/10/22/german-publishers-...
Google News does not automatically take your content. You have to apply explicitely to get it included.
For regular search, there's always robots.txt. Claiming that there are any media/content producers who get included into the index against their will is absurd propaganda. Of course they want to be listed. They just want money, and Google has money, so they "convince" local politicians to make Google pay them their "share". Just like the Mafia.
No it does not, you need a lot of steps to make your website available on Google News, it does not work by default.
I don't know the detail but the way you put it seems very fair to me. Law protect publishers against Google, so they can say to Google "no", except that their interest is to say "yes". So they say "yes". Looks to me that even if the end result is the same, the publishers had a say. Without the law, Google takes whatever it wants without asking. Now, it has to ask. Looks fair to me.