It gets even worse with it's extraterritoriality, because you can still be under it if your dealing with a person who lies that they are an EU citizen and they are using your service in your own non EU country as a resident of the non EU country. It's like data FATCA.
And there are other loopy catch 22 ambiguities, like if you want to delete someone from your audit log, do you delete their personal info (which is fairly expansive definition under GDPR) from the audit log too? Then how can you show you deleted the person's info if they are also deleted from your audit log?
Read this to see more from the small company side and how much of a mess it is:
https://www.brentozar.com/archive/2017/12/gdpr-stopped-selli...
Think of this theoretical situation. If your an EU citizen vacationing in a developing nation who has a medical emergency, could that hospital just decide to reject you because the hassle & cost of dealing with GDPR is too great? Remember, it's a developing nation, they can choose to just refuse service to you.
Kind of like how a lot of americans get rejected by non US banks because dealing with FATCA is just too much of a pain ass today?