I agree!
IMO, punishing data abusers can't be solved with data privacy laws. It's a regulation with very little ability to be enforced.
In the first place to abuse data you need a lot of it, so really we're looking mostly at big companies with big pockets. The easiest way to attack here is to punish unfair markets and to have stronger antitrust laws.
Let's look at the textbook case for privacy with Facebook. Facebook would be the prime candidate for antitrust no matter how you look at it: there are basically no competitors to it in the US social media market. They own everything except Snapchat, which is dying off and failing to turn a profit. Facebook accounts for so much presence in the US that they have login buttons you can integrate on different sites (Google does too because of how crazy cemented they are). Yet somehow besides being so obviously monopolistic and out of control they're hit with no antitrust. Bell was split up for doing much less.
Antitrust is just a joke right now. We have to get better enforcement first before looking to create regulations to be enforced.