Great. I love when companies just exit the market when countries enact silly laws.
I love when companies just behave better when countries enact fair laws.
Of course it may not be easy to define what is a "fair law" but if it weren't for them, there wouldn't be workers rights or abuse prevention in many forms.
For this law specifically it's a shitshow because they have their current math for the rest of the world which consumes 70% of their revenue and this law simply says yes and pay more. They can't rebalance the money to comply with the law because they would immediately get sued by record labels and so it would have to cut into the 30% which is just pure loss for them.
When you write a law that guarantees you'll lose money in an entire country with no way out you're kinda backed into a wall. Small artists should get paid more but this change can't come like this because there's nothing for Spotify to actually do in response to the law.