Seriously, go read it (http://www.coppa.org/coppa.htm). You're getting your jimmies rustled under the pretense that COPPA has anything to do with protecting children from the "evils" of the Internet.
But here's the distinction: the "protection of privacy" is not a subset of the "protection of children."
You're throwing COPPA into the same bucket as every other misguided attempt to shelter children from the boogeymen of the Internet. That's not its intent; you're misinterpreting it.
By its results. And the results are not pretty: we are now growing a generation of liars who learned to lie by default, as a pre-requisite to everything.