This sentiment and the hilariously large fines (regardless of company size, even) on relatively-ill-defined requirements make the whole GDPR process feel like it was designed to bully businesses into compliance.
Some pieces of GDPR are definitely for the benefit of the end-user (at the expense of companies, who happen to be providing those users other benefits). It all feels really heavy-handed, though.
Not to mention a little reminiscent of the problems that occur with other "bans" (which, this effectively is). When you put heavy legal restrictions on doing X (where, in this case, X is storing and processing data that you assumedly use to provide a service for users), you're effectively hurting the legitimate businesses most (_especially_ small ones) while the real "bad guys" that are actually doing bad things with our data are going to continue ignoring the law. There might be some value in-between, but I doubt there's much.