Earlier quoted context omitted.
He's right though, the EU can do nothing in that case. Quite literally nothing. There is no law to abide because you don't "care" about it and there are no consequences. Practicality > useless laws
Yup, that's the whole point. The Deloitte page I linked to gives a Chinese web store located in China with no EU presence as an example. It's bonkers that the EU thinks they can enforce their laws in a situation like that. But then, that's why it hasn't been tested. It's basically a 'feel good' law with no teeth (at least the extraterritorial aspects).
It will drive Europe to a sort of digital isolationism where offshore companies will either a) dismiss and continue b) cease operations there.