Earlier quoted context omitted.
Define retention policies and explain you would keep IP addresses up to xxx months to ensure service operation/troubleshoot/etc. Prune the logs. There you have it.
Sounds like a legal headache for anybody who wants to set up a personal blog or blog for their company, with a penalty of up to 20 million euros if you get it wrong.
Much like if you set up your billing software wrong, you could go to jail for years for fraud. Or you could violate a safety regulation and get shut down for months.
Staring at the worst possible punishment is hopelessly hyperbolic.