This is such a great outcome for Google, they could not have gotten such a good outcome if they had bribed the legislators directly. They've essentially enshrined the infrastructure Google has already as a legal requirement for the bare minimum threshold to host a web site now. Google can sit back and stop worrying about there ever being competition from Europe now.
I don't think it's surprising the global economy is littered with long-standing monopoly with little competition. It's not merely economies of scale, vertical integration, and other benefits of size, but because the business environment perpetually gets harder and harder for entrepreneurs to operate in.
The growth in the size of modern state-capitalist nation-states naturally coincides with the growth in monopolistic mega corporations - at the expense of things that have made capitalism so powerful and effective (competition checking abuse of customers, rapid innovation, etc).