Article 11 clearly states: "The protection granted under the first subparagraph shall not apply to acts of hyperlinking."
So no, this is not a "link tax".
Article 13 clearly states: "Member States shall ensure that users in all Member States are able to rely on the following existing exceptions and limitations when uploading and making available content generated by users on online content sharing services: a)quotation, criticism, review, b)use for the purpose of caricature, parody or pastiche." So no, neither will hyperlinking be punishable nor will memes be banned or regulated.
So no, it's not the end of fair use.
Please read the actual text before making claims like this.