I'd be fine with automatic content tagging if at the same time false copyright claims by someone who does not actually hold the copyright would lead to a hefty fine and/or be considered a crime.
Right now, large corporations seem to spam the systems with automated take-down messages without any control and any incentive not to do so, to the effect that actual content producers have almost no way to defend themselves against false claims. Every youtube channel owner can sing you a song about that.
That's a problem for both the US and EU copyright system, but it's also not clear to me if and how the forthcoming EU directive would fix that problem. For all it's worth, it seems to make things worse.
