You have a very nuanced and insightful perspective, thank you for educating and sharing!
you'd first need a world government for any laws to apply. and no chance of that happening within the foreseeable future.
Please give me an example of a corporation getting serious issues from any government for actions they took on foreign soil.
Almost all eu-foreign enterprises ignore it entirely or don't actually adhere to it, even after showing a big pop-up claiming they do.
And the multinational corporations just started to hide their tracking better. For an obvious example: chrome includes a 24 bit unique identifier per installation to track you and instead of saving your PII they just build a nrr to "predict" them. Such a success, indeed.
Nor did they change because of it, so your point makes no sense whatsoever