If such a law is introduced, will it still be possible to download the application from the website and use iOS sideloading as an alternative scenario?
(I'm not talking about the convenience or ease of such a solution)
You could just change your App Store region to any country outside the EU. For example all you need to change to US is an American phone number and credit card.
No unless you jailbreak your iPhone (good luck with that) or re-sign the app every week because that's your only option without a $100/year developer account.