The cookie law was also largely overblown. It only require notifications for any non-essential cookies and I think the wordpress plugins for this simply put up a blanket banner because the blog author might just be using the Google Anal ytics plugin too.
And then everyone put it up "just in case" or "because the law says all cookies". (Of course some smart people figured out that local storage is not a cookie and the law only covers cookies, atleast what they gather from hearsay instead of checking the actual text)
But tbh, I'd prefer US services IP blocking European users. It'll encourage EU startups to fill the gap and they will have the privacy regulation of the EU as marketing bullet point over any US company, eg "In the US privacy is a pinky-promise, for us privacy is law".