I have not much more than a cursory understanding of this new law, but holy shit do I hope somebody breaks the web. Fast. This is out of control with the tracking and the monitoring and every other website seems to pull in 14 or so different javascript analytics with who-knows how many 3rd party companies that you had no idea you were interacting with when you went to the original site.
I still don't understand how they plan to enforce this law worldwide, though. The EU is powerful, sure, but if I was China I might just tell them to piss off when they come knocking.