I think that would also mean that if you were in the EU and an EU resident, while using a US VPN, you'd get GDPR protection, but not the other way.
1. All companies domiciled in the EU regardless of where their customers are.
2. All companies serving or monitoring EU residents regardless of where they are domiciled.
Answer to OP:
Yes it does. See above.
Side note: GDPR applies to all EU citizens no matter where they are currently located, so no need (for EU citizen) to use VPN when abroad for that reason.
https://ec.europa.eu/info/law/law-topic/data-protection/refo...
You don’t have to be a citizen to get protected you do have to be in the EU. Even if you are traveling in the EU but don’t reside there you aren’t necessarily covered.
In no situation does a vpn give you applicability.
Article(3) of the GDPR states clearly where the GDPR applies. There is zero mentions of EU citizenship anywhere in the GDPR, and being an EU citizen who is not an EU resident entitles you to no GDPR rights. Again, read Article(3).