That indie dev got contacted by the government for feedback. Not a bad sign, in my opinion.

There’s some definite nope’s in there — excluding small companies from GDPR, exempting them from corporation tax on profits etc

Most of that is adjacent to regulation, and it's more or less asking for exemption from regulation for smaller companies. Which the EU already does a lot of: generally smaller companies have much lower regulatory regulatory requirements. But the threshold proposed is silly: you do not need to be anywhere near a $10 million company for complying with the listed regulations to be a pretty trivial amount of work. I do suggest reading these things, for the most part they can usually be sorted with a bit of paperwork, the kind of thing someone who's reasonably on it can bang out in a day or so. (Especially software: hardware can be a bit more of a pain, but that's because of important shit like not starting fires or electrocuting someone)