Unlike most other developed countries, the US has no real site blocking, mostly because it doesn't need it. They have enough control over the financial system and enough friends in foreign governments that they can essentially nuke websites that don't follow American law off the face of the earth, or at least force them not to serve American users of their own "free will". See e.g. crypto exchanges that don't follow KYC/AML, crypto-native prediction markets that nevertheless require a VPN for Americans to access, despite not even interacting with the non-crypto financial system, piracy sites which are often shut down at the behest of the US government, foreign banks that ask you whether you're a US citizen etc.
Once the answer to "we are the SEC, you can't let Americans visit your site or we'll get you extradited" changes from "yessir" to "fuck off, we're Europeans who have never stepped foot in the US, American law doesn't apply to us, and our government is gonna back us up on that", things will get really interesting.
As a European who is very much against EU tech regulations and the EU way of doing tech generally, this is definitely one change I'll welcome with open arms.
As an aside, I'm surprised "freely offering drugs / pirated content / havala-style unregulated P2P crypto exchanges to Americans on the open internet" isn't a model that a US-unfriendly nation has tried so far.