However, that's not even what Schwarz is targeting here. They are targeting the IT departments of existing companies that aren't necessarily in the tech space at all. I know of a bunch of companies who'd love to move a lot of their stuff into a managed cloud, but wouldn't touch a US-owned cloud for compliance reasons. They stay aware from Telekom, because... well... Telekom. They stay away from Hetzner because Hetzner is not considered "serious" enough for now. So they often end up running their own infra or at most do unmanaged colo.
The GDPR I do like, and are a bit prideful that the EU made it happen.
But it isn't about pride here so much anyway, as it is about political and regulatory realities.
Schwarz has to convince their potential customers that they are "serious" (and Schwarz is considered pretty serious in the business space), that they can execute on promises (and Schwarz again has a reputation for that too, though in the retail space) and that they can offer a cloud that is compliant with regulations, even if at first it's not much more than some managed vms/colos.