Cables (generally) don't go bad in a year or two and can last for quite a few years. Most long-term iPhone users probably have at least a few spare cables throughout their desk, house, car that they've bought over time that they'd now have no substitutes for and would need to replace.

You might have dictated a situation where people now have to throw away a pile of perfectly usable cables/accessories and buy a bunch of new ones. While well intentioned, this law might have otherwise achieved the opposite of what it set out to do.

PS: Whether this law exists or not, I'd have bet on Apple working to go fully wireless soon and this might just accelerate that effort.