If anything, this kind of regulation helps companies like Facebook keep their "monopoly", because it raises the monetary cost of starting a competitor. A number of smaller services and games have shut down due to increased cost of compliance, even for companies that don't have any privacy issues.
It's a huge competitive advantage for privacy-oriented companies that were actually following the old Data Protection Directive. I've spoken to people who are in a blind panic about GDPR day, but I've also spoken to people who were completely unconcerned because they already had their ship in order. If your business relies on re-selling user data or aggressively targeting ads through data mining, coming into complian…
I get the advantage of being more prepared to apply GDPR but that lasts 1-2 months max. The fact that people keep using facebook mindlessly in and out of EU over the last year makes one wonder: Does it really matter to users?