The bill does not only add to the power of the president. It also grants the Secretary of Commerce "access to all relevant data concerning [critical] networks without regard to any provision of law, regulation, rule, or policy restricting such access." This means he or she can monitor or access any data on private or public networks without regard to privacy laws.
"We are the CC Borg. Lower your shields and surrender your broadcast stations. We will add your biological and creative distinctiveness to our own. Your broadcast personality will adapt to service us. Resistance is futile."
That's why it scares so many people in the establishment.
The ChiComs can't even prevent determined people from getting information they don't want to be accessed in their country of 1B+ people.
The Obama Amateur Hour administration will NEVER be able to achieve internet censorship of opposing views to any degree even close to the failure the ChiComs are at. They will try, however. This is why I've always opposed the patriot act, because I saw back then that it was excessively powerful and would be perverted by a power mad wannabe "Dear Leader" (like Obama) into a weapon not to use against foreign terrorists but American Citizens who happen to disagree with the establishment.
"Show me just what Muhammad brought that was new and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached"
-Manuel II Palaiologos Byzantine Emperor (1391-1425)