This means that most European banks, big companies and government departments will soon be fined by the EU... The following could be said of almost all large corporations and institutions, including the year long project that failed to catalog data sources effectively:

"When ordered to produce information about what 149 different data systems within Meta do, and what parts of Meta’s business use them, the company was unable to respond. This was despite having conducted a year-long investigation of those systems."

There is no point having a law which essentially no company can be compliant with. It means that the law will almost certainly be applied only by exception and hence capriciously. The likes of Facebook may be able to use that as a defense despite their breaches being egregious.

As a side-note, the idea that Meta only has 149 in-scope data systems sounds ridiculous.