When you buy a physical object, such as a home, a car, a shirt, or a smartphone, shouldn't you be be able to repair it, modify it however you want, use it for different purposes, loan it to friends, sell it to others, and so on -- you know, all the rights and benefits associated with the concept of private ownership ? And when you buy a software object, shouldn't you have the same rights and benefits?
I think if this law is passed, companies will start subscription service where you'll be renting phones instead of owning then. Then onus and exclusive right for repair/replacement will stay with the smartphone company.
You pay the full cost of the device, but you don't own it, and companies retain the exclusive right for repair/replacement. But, they don't have any onus for repair/replacement, and you need to pay full price for a new device if your current one gets damaged.
An honest rental system might be preferable. At least then people would know what they're getting into. At least when I rent a device, there's some real obligation for the actual owner to fix it when it breaks. At least then companies who legitimately sell their devices and don't block repair efforts would have a marketing edge.
By all means, let people rent software. Just make sure companies are correctly marketing that as a rental.