I don't know, my impression is that this is written by someone who doesn't understand how law works and making hyperbolic assumptions through cherrypicking. I recall a similar panic and outrage when GDPR was introduced, claiming that it will bankrupt startups and small projects etc.
The EU stuff is usually against large corporations who pose systematic risks. Think about how TikTok makes the US freak out about China spying and manipulations, for EU it's the the same thing but include Facebook and all other large social media too(because American corporations are foreign in Europe like TikTok is foreign in USA). US considers banning TikTok, EU's approach is to regulate how data is processed and used in order to keep open market and mitigate risks.
So as a rule of thumb, Europol doesn't knock on your door when you train a model on data that doesn't meet the requirements. This is probably designed to make countries introduce laws which will hold Google/OpenAI etc. accountable for their services so they can't just shrug and say "ouppsy, it's not our fault the AI did it".
I'm sorry to pop the alarmist narrative, but this is not the legislation which is going to "get you".