DPAs seem to be understaffed and overwhelmed.
On the other hand, people said that nothing would happen to the likes of Google or Facebook, as they'll just work around it. Well, that prediction aged poorly, the lawsuits have been progressing, and it takes only one DPA from one country to change things. Like how it was deemed that Facebook's ads targeting isn't a legitimate purpose, so they'll be forced to ask for consent without denying service for those that refuse.
Meta knows that GDPR spells doom for their business model, which is why they abstained from releasing Threads in EU, as a sort of warning perhaps. But it won't work, because the EU market is too big to pull from, which is why EU legislation has teeth.
And GDPR actually works, even if it takes some time for DPAs to solve existing cases. And the "cookie law" works too. People complaining about banners miss the forest from the trees: banners are mostly needed when doing spyware shit, and they serve as a great warning to visitors. There are no cookie banners on Mastodon.