IMO, obeying Chinese law is similar to obeying GDPR. It's not smart for any corporation to fight governments.
The consequences for Google not obeying the demands of China are just... getting blocked in China, no?
Actually the law itself is probably not so bad... in my experience communist states always have decent laws, with various rights enshrined into them. It's just that in the implementation one always ends up with a boot stomping their face somehow.