Implications that this is an actual breach are large. Does that mean if I hire a red team of independent consultants and they managed to gain access to one of my backups, i have to report it as a breach? Thats the worst case scenario.
The best case scenario is all companies have to pull bug bounty programs because any bug found is now considered a breach. This actually very bad for the industry. Bug bounties are very effective part of a comprehensive strategy to safe guard customer data.