Earlier quoted context omitted.
Yes please! Making PII leaks an expense (like rent and cloud costs) means it's paid by the customer. I strongly believe we should distinguish the price of doing the operation (aka rent) and the price of doing crime (ideally, jail).
Everything is paid for by the customer. If you spend an absolute fortune protecting someone's named and address combination, that will be paid for by the customer.
And then you get your lunch eaten by a competitor who understands that the PII is unnecessary for the business relationship.
But only if that externality is actually accounted for in regulation.