Sadly there wasn't much hope of this bill not making it into law. The opposition parties if anything felt that the law wasn't strong enough and pushed to make it even more draconian. The British public at large are in favour of any law that imposes harsher penalties and regulation on the tech giants. 'Protect the children' is far more emotive than 'But we might eventually lose encryption', and the collateral damage to our freedoms is slow and insidious enough that it's not recognised or appreciated. I think given everything we have to take the governments vague concession of 'when the technology becomes available' as a win, it was the best we were going to get, no way was this bill not going to pass.
We are still in the early Wild West days of the internet, but in the decades ahead bills like this will become more commonplace as governments try to wrestle back control of what citizens can access