No, he's trying to stop unnecessary lawsuits against productive members of our society. His goal is not to abolish tort.
Do you really think that suing a drug maker over that pill will eliminate that pill? Do you really think it will stop planned parenthood?
You can ask Dow Corning. At the very least it would make them more discrete about their claims and it is very very likely they would be more cautious in their recommendations as how to use it.
I hope you're right and it does stop them.