Newer regulations also mandate that "reject all cookies" should be a one click action but surprisingly compliance is low. Once again, the enemy of the customer here is the company, not the eu regulation.
And since most people click on accept, websites don't really care either.
Of course the business which depend on harvesting data will do anything they can to continue harvesting data. The regulation just makes that require consent. This is good.
If businesses are intent to keep on harvesting data by using dark patterns to obtain "consent", these businesses should either die or change. This is good.
The odds of the EU actually hitting a useful mark with these types of regulations, given their technical illiteracy, it's is just astronomically unlikely.
It was a decade too late and written by people who were incredibly out of touch with the actual problem. The GDPR is a bit better, but it's still a far bigger nuisance for regular European citizens than the companies that still largely unhindered track and profile the same.