Ah, that tried and true indicator of "I get all my takes from Reddit".
But your threat model is messed up if you're more scared of Microsoft or your ISP abusing you than your government abusing you. The latter has way more potential for harm, and it's exacting that harm with your tax dollars to boot.
In the threat model of the average European, corporations are actually seen as a higher risk. Maybe with less impact, but the risk is a lot higher. And they mistrust and complain about the state too, a ton, just a lot less.
Most Europeans don't think the state is evil, just incompetent. Though that sentiment is on the rise too since the covid conspiracies, and still fueled by Russian and Chinese disinfo campaigns.
The interesting thing about the article is that all this EU regulatory control over corporations is in fact deeply capitalistic and the very reason for its existence, and in the corporations interest. Which is not what most EU citizens would consider being on the left of the political spectrum.
The idea is: we need regulation to shape the market where businesses can compete freely to the advantage of both businesses and consumers. If we don't regulate, monopolistic corporation would threaten the single EU market.
Or even more simplified: we need rules to have a free market. The US version (or one of the versions) of capitalism is more of a free-for-all, where the most important thing is to reduce regulation, not increase it. It seems to trust the judicial system more than the government.
The EU is, rightly, seen as fairly far right on the economic spectrum by most in the EU countries. Which is not surprising considering the EU is a neoliberal project (although a very successful one).
So when someone sees a company spitting in the face of the EU one doesn’t immediately think “oh that leftist EU is at it again”. What they naturally and correctly think, wow, this company can’t even deal decently with the highly pro capitalist pro market economically right EU.
Capitalism is like a cancer, it will grow endlessly and will become feudalism. Socialism is the government applying rules to capitalism, so it doesn't get out of control.
US policy of neo-liberalism is growing in Europe too, which is giving problems.
In a European context I would have said that capitalism is companies being owned by private owners, communism is companies being owned by the state (which is supposed to be the extension of the collective will of all citizens, but rarely is). Socialism is whatever you want it to be, but generally includes the state supporting the unlucky, improving worker mobility through unemployment benefits, improving worker rights, supporting the young and the elderly, etc.
The US and EU have some differences in how they approach infrastructure, communication and transportation, but in nearly all other aspects they both bet fully on capitalism. The difference is that the US is very big on free unregulated markets within the US (though with some comically protectionist policies when there's the threat of competition from outside), while the EU is generally of the opinion that a regulated market is a better, more competitive environment with better outcomes.
Capitalism is government regulation of a market. https://youtu.be/CRPHp2EjNR8
Capitalism is ownership of capital by corporations who are protected by the state.
Neo-liberalism is a version of capitalism that thinks the state sucks and must stick with the minimal protection that enables private ownership (vs banditry).
Communism is ownership of capital by the state and the abolishment of private ownership.
Socialism is more fluid, but the core is redistribution of wealth to effect just outcomes.
All of the above involve the government applying rules so 'something' doesn't get out of control, whether its evil bureaucrats or evil corporations. All of these can be done democratically (usually in varying degrees) and with the rule of law, or end up in a form of oligarchy or lawlessness.