If it's anything like the EU's other recent regulatory efforts regarding US big tech, it will be horribly bungled and do nothing but make the lives of citizens harder.

Article 17, the "upload filter" law, has to be in local law June this year, and they have been really struggling (oh wow, who could have predicted this) to write up a suitable proposal that can fulfill the law while not ruining all UGC on the internet. They were told about all the issues, but no one listened.

The old parties in the EU parliament are so riddled with lobbyism, in this case by publishers, that I'm not surprised by anything coming out of it anymore.

I think this has been coming for a long time, and has been needed, silencing the press and world leaders is what put a nail in it. Thank Jack Dorsey for that. But with great wealth comes great flexibility, these companies won’t be reigned in overnight, they will evolve and stay ahead of the regulators, at least for a while.