Was the internet rationing in the EU even necessary, or was it just a knee-jerk solution to a problem that didn't actually exist? At the time it seemed like the latter. Presumably Amazon, Netflix and friends are back to full bitrates now, has it caused any problems?

Edit: although if the EU requests to slow down data were totally unnecessarily it certainly doesn't disprove your point about excessive regulation

The EU is a whole different level of incompetent, but attributing that to regulation alone would be misleading. For one, Europe is much denser than the US. Naturally net loads would be high if everyone were forced into a lock down uniformly, with armed patrols and the like.