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.