They did.

The law states that the European Commission shall monitor market development, market fragmentation, and technological progress, and report on it every few years.

But note that market development is only possible because the EU's reach is limited and it doesn't have any phone makers of its own. Technological progress requires market fragmentation, because progress doesn't turn up on everyone's doorstep simultaneously. So the EU is betting that it can engage in trivial populism like this whilst not losing out on any actual progress, because other parts of the world will 'bail it out' and continue researching such tech. Of course, it just solidifies the situation in which the EU has a pitiful tech sector because why bother introducing new ideas to the market when the EU might at any time randomly ban "fragmentation".

The problem with the US approach is that now we have a bunch of agencies effectively inventing laws without anywhere near the same degree of oversight or public accountability. Sometimes that's a feature rather than a bug, but not always.