The industry did do some things, for one internet giants are in a certain competition to appear privacy-conscious. For another, adtech did introduced some options (e.g. adchoices) but they were arguably too little. The thing is however people don't care about their privacy as much as their governments would like them to care, hence the regulation. But it's opinionated , extreme regulation meant to disrupt everything rather than fix the things that need fixing, and that never works.