If the N version has almost no telemetry, then I bet there will be plenty of customers. Almost everyone I've talked to who is unwilling to use Win10 has mentioned the telemetry/privacy aspects.
The previous N versions only have no Windows Media Player --- something a lot of users either want or don't care about, so no wonder they weren't popular.
If the standard version breaks the Dutch law then it should be impossible to sell it there. Everybody should be able to buy only this hypothetical N version.