American companies sign agreements with other American companies – that's fine. But when they want to sell into the EU, then it's fair for them to obey the law in EU states. One of the primary goals of the EU/EEA is to serve as a single market – and the entire practice of 'geoblocking' runs counter to this. Offering content to consumers in one EU state and not another segments the single market in a way that I'm surprised hasn't already been dealt with!
Your shoe market analogy isn't quite apt – we're not discussing whether or not companies have to be forced to offer content to the EU, but whether they are permitted to segment the market when they do sell to the EU.
Every EU company does not currently have to sell their products in every EU country. Neither does every American entertainment company.
The proposals, so far as I can tell, advocate a change in EU legislation such that digital goods cannot be sold to some EU countries and not others, or that EU consumers cannot be prevented from purchasing goods offered in another member state. Any such legislation will almost certainly apply to both EU and international companies. This is an idea that is very in-line with the single market goals of the EU, and I'm surprised that you seem to think otherwise.
In a similar manner, if you're a manufacturer and want to sell shoes a wholesaler in e.g. Germany, then you're not obligated to sell them in other countries but you are prohibited from mandating that they must be sold only in Germany - the wholesaler and their customers are free to re-distribute them in neighbouring Austria even if you don't want them to.
I get that you have very different attitude on regulations of commerce, but really, what would (in your opinion) be the American people reaction to that?
Probably pretty negative. Is copyright enforced in equal ways across the EU?
I imagine content creators are interested in copyright laws being applied equally across regions. That includes things like subpoenas to ISPs and requests for taking down content that's illegally copied.
Is all that equally possible across the EU? My guess is it isn't. In the US, copyright is enforced the same across all states.
Technically, today one company can serve anybody in the world. This used not to be true and content creators had to deal with local distributors (cinemas, TV cable companies, etc...), and those local distributors were happy to pay a premium to get local monopoly.
Now newer better companies with better (awsome) models cannot serve content because of those old monopolies. Local distributors have no incentive to improve their service, and sure don't. Companies are going to need to ignore those "legal monopolies", and somehow operate illegally, in order to disturb the market and force everybody to move forward.