My opinion on EU regulation would flip 180 degrees if they offered any kind of pre-clearance where you could propose a product, feature, or policy and be told in advance if it meets their subjective requirements.
IMO you can have clear, specific requirements in advance, or you can have a body that provides interpretations of spirit-of-the-rules regulations in advance. Having neither is a problem.
(yes, I'm aware of the argument that if you tell companies what's legal in advance they will just do the bare minimum or find loopholes... I don't find that to be a legit rule of law system)
And I generally like that a lot better than having a set of hard this-way-or-no-way checklists that invariably consist of 80% bullshit ceremony for giant corporations. ISO nudges you toward that too, but if you’re able to deliver the same security guarantees with less, auditors will usually be happy.
The same, in general, works for GDPR regulations as well: The law is mostly about doing the right things, but not spelling out the billions of cases and permutations and strategic decisions involving privacy in one way or another.
But I do personally prefer living in a value-backed society - even if the implementation is imperfect, even if I have to make personal concessions - over one that aims for maximised efficiency.
More fundamentally, imho the 20th and 21st century are about competition of systems. And the only system I can get behind is one that strives for minimal suffering. The EU or social liberal democracy isn’t that, but it comes closest.
Don't forget that the EU is still a market so big noone can ignore us - especially for the US, we're the only opportunity for the growth required to keep their economy (and 401k pensions!) afloat. So there really is no immediate need to cave to their every whim all the time.
Of course this is nothing to rest on, and the EU has to improve on many fronts and also get better on the amount of regulation, but we're by no means in a bad position (yet.)