It seems like the regulations help to create an environment conducive to innovation. There is now a strong incentive to solve the problem "a better way". Let's hope it happens!
Except they don't. If they'd simply legislated that all web browsers have to ask that question, awesome. Instead, they legislated that every business on earth has to explain it to end users and separately ask for consent. So, even if all web browsers were updated to correctly ask for third party cookie permission, every business on earth still needs to do all the expensive hoop jumping.