This is insanity. Their explanation is that users are so accustomed to these cookie walls that a site without one would feel suspicious and unsafe.
I very much blame the EU on this, because the EU policy has solved NOTHING, tracking still happens just as before, except now users just have to go through more friction. Of course I am also pissed at the websites and entities that sell my data, but that is irrelevant to my gripe with the EU.