Earlier quoted context omitted.
Possibly. The other possibility is it will make it impossible to buy an iPhone in Europe. It certainly puts a huge incentive on Apple to figure out technical solutions to problems like "How do we get other browser engines on this thing without compromising a hundred OS assumptions, battery performance, or user security," but it's also possible Apple decides that's a no-go and it'll cost more than 25% of annual revenu…
Last I checked the EU was still the largest single market block in the world. Maybe that changed since then, but I don't think Apple will simply cede that to a competitor - especially since it would go heavily against their "we care about users" narrative.
But I would agree, they're not likely to just give up on the market. Even ignoring the likelihood of similar laws everywhere else, it's too big and too tempting.