"systemic weakness means a weakness that affects a whole class of technology, but does not include a weakness that is selectively introduced to one or more target technologies that are connected with a particular person. For this purpose, it is immaterial whether the person can be identified." (https://twitter.com/Jordonsteele/status/1070461760031797249)

IANAL, but I'm fairly certain that essentially means "anything we require you to introduce is specifically defined to not be a systemic weakness". What do we need reality for when we've got doublespeak?

Apple have already essentially stated they will not make use of Aus tech products if this goes through, as have a few other big players. I'm not sure if EU companies will be able to use Aus tech products and also comply with the GDPR, so there's a rather large chance that our nascent tech industry immediately implodes.