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That regulation would not have come into existence if there were no privacy problems caused by the ones that have to comply to the regulations

Right, and that regulation has a cost. I hope it's worth it.

There were certainly problems.

But the GDPR and ePrivacy directives don't protect us from nefarious cross-site tracking cookies.

Prior to the GDPR, websites just tracked us.

Now they track us AND present an irritating warning that users have learnt to mindlessly "accept"