Yeah, that'd be great! We didn't get the web as we know it today until bunch of people and companies got together and created standards for everyone to rely on. Why can't we do that same for SaaS businesses?
I think the test is something like: If the concept is the same, you should be able to import/export it. For example, you have a SaaS having photo upload + being able to put the photos into a custom gallery. Then you should be able to export that gallery in a format that you can recreate the same gallery in another SaaS that also has photo upload + custom galleries.
The article itself is clear that it's not always technically feasible to offer this import/export. For example, it doesn't make sense to be able to export Facebook posts and import them into Twitter, because those are two different formats with different restrictions.
This is from the actual article:
> In exercising his or her right to data portability pursuant to paragraph 1, the data subject shall have the right to have the personal data transmitted directly from one controller to another, where technically feasible.
The full article of "Data Portability" is not that long, you can read it here: https://gdpr-info.eu/art-20-gdpr/