The worst thing a company can do is try to sell you more soap. The government on the other hand can literally ruin your life (or even end it in some countries).
The EU is doing a fantastic job of keeping everyone distracted by pointing the finger at the "evil American tech companies" while simultaneously doing the opposite when it comes to privacy from government...which is the real threat.
I could point to many instances of this but the easiest one is the EU commission currently pushing a ban on encryption.
[1] https://www.eff.org/deeplinks/2022/06/how-federal-government... [2] https://edition.cnn.com/2022/07/14/tech/amazon-ring-police-f...
This is reasonable.
Though knowing that the data used to serve ads has very little overlap with the information that governments are interested in, makes this move more pointlessly destructive.
Funny enough, the data that governments are interested in isn't getting restricted. There are laws about how to protect that store that data, but that data is not being restricted.
Let's not pretend that governments are going to tell companies to stop collecting data, that they are inherently interested in procuring.