Here is the reply that I received after I asked Fandom what is going to happen to this and other wikis:
"Thanks for contacting FANDOM.
It's certainly concerning, but I wouldn't be too worried. There is a lot of room before any final implementation is adopted, and we don't know what the final form will actually look like yet. We'll be monitoring the situation and seek to strike the best balance between supporting our communities and complying with applicable law."