(Not the person you replied to)
I'm not sure where all of this is coming from, the law is actually extremely obvious and useful: you want to track people, they have to be informed, and have to consent. The law says nothing about how, and the way it was implemented was entirely up to the corporations discretion, which of course opted for the most malicious terrible way to do it, but they did it.
The purpose of the law was that people should be informed about cookies being installed and consent to that happening.
Do you feel like people are now aware that cookies are being installed, more so than before the banner? Do people understand that they are consenting to this?
That is the law at work.
Everything above and beyond that is nice to have, and I'm sure the world would be better for it, but without the EU, people probably wouldn't even know what cookies were, let alone understand (or have control over) how they are being tracked.
If that's not a net positive in a world where net-negatives happen every week, I don't know.