This is good and all States should adopt some. Eventually I’d like to see one at the federal level that supersedes state level ones so that we don’t have to deal the the mess that is taxation across 50 states. A nice uniform privacy bill at the Fed level would be nice.
In the current environment, tech companies have to bribe 50 states plus the federal legislature in order to block privacy bills. If you have federal preemption, then you just have to bribe Congress, because states can't pass ANY privacy laws whatsoever. And we already know the feds do not want a privacy law: the entire legality of the federal surveillance apparatus hinges on the fact that buying your data from third parties does not trip constitutional scrutiny. Preemption freezes the requirements in time so they will always be a few steps behind the TLAs[0].
The ideal is that every sovereign entity passes their own privacy law that applies to their territory, with a private right of action, and adtech companies are forced to adopt a "50 states legal" posture. This is, deliberately, a ratchet: it's easy for any state to require a higher standard but hard to get every state to reduce it, so privacy laws cannot be walked back in secret.
[0] Three Letter Agencies: CIA, FBI, NSA