Re: "A decision to put hyperlinks beyond the reach of copyright"
You might feel unhappy if your private phone number is leaked, but that has nothing to do with this case...
But using your example, web site A hosting copyright violating content and being linked to by web site B is sort of like person A knowing your private phone number and person B saying "ask person A if you want AC's private phone number". Even if you passed a law making it illegal to divulge a private phone number, meaning person A can be fined or jailed for telling, do you really suggest that person B should also be breaking the law by merely telling people who to ask if they want this illegal information?
It is no different than if someone you know wants to buy drugs and you happen to know someone who sells drugs. If you say "talk to Bob" when asked "hey do you know where I can buy some drugs?" you aren't committing a crime (at least in the US, that's not enough to be legally an accomplice)