On the plus side, the US is catching up to the rest of the world. But as happened in the EU when they did the same thing, prices did go up. Not only to cover these expenses, but limiting routes and canceling city pairs because the liability is too high.
For a real world example, one such city pair I fly between often is generally an hour or so delayed every time. The air space is near 100% capacity so you can't just squeeze in an extra takeoff and landing. The winds are often hurricane level from many directions. Snow in May and June and August happens. Daily hail storms. Daily downpours and thunderstorms. This is normal for a mountainous town. There are 20 flights a day, but they are all whenever and all delayed. Sometimes when the weather clears in the afternoon, the 1pm, 2pm, and 3pm flights all leave at the same time because it's a break.
This compensation rule makes that flight impossible. In the future my bet is there will be 3 scheduled flights a day when there won't be weather issues as likely. Huge number of seats dropped. Ticket prices way up. This will happen everywhere just like it did in Europe.
Someone somewhere has to pay for your constant complaining. And it won't be the airlines themselves. It will be you with ticket prices.