Not necessarily. Another way of looking at it is that GDPR is forcing companies to eliminate a common dysfunction, while at the same time restricting their ability to play shenanigans with user data. The end result is companies that are more efficient at what they should be doing, and restricted from doing what they shouldn't be doing. A win-win.

(While many business people used to how things worked are unhappy with the changes, sometimes you really have to bludgeon a fix through the broken incentive structures that plague businesses.)