On one hand it is a terrible proposal that deserves exposure to generate pushback.
On the other hand it is still just a proposal, of which there are many (stupid ones) which never see the light of day. This still needs to pass the European Parliament (which is generally opposed to this, not in the least because it is very unpopular under EU citizens). Even then the chances of it surviving a challenge in the courts (of which there will be many) are tiny.
My point is that legislation can exist in a variety of stages. In the extreme case where we get stressed and angry at every proposal that any politician comes up with, we waste our energy instead of letting the specific systems introduced and thought up to mitigate issues with such proposals do the job efficiently.
Said otherwise: In some cases it effectively becomes crying wolf and makes people numb to and averse to hearing about it. As said, though: I am ambivalent towards news like this. In some cases we need to 'tell, tell, tell' to get the point through. It's a fine line, I think.
Besides, getting people up to speed with the idea that backdoored encryption is no encryption is pretty useful in itself, as similar proposals will keep popping up in member countries.
But sure, it's not the very last chance.
Whoever puts forth such ideas should be the first to show all their private communication. It shouldn't just be for the common citizens. How quickly the idea would be dropped ...