It may very well affect every web company and it may deprive them of something they've taken for granted for a long time. Asserting that you should continue to have something simply because you have had it for a long time is precisely what I mean by entitlement.
No "standard" was ever agreed to by the overwhelming majority of the web population who don't understand the web on a technical level.
The tech industry used to be pretty good at self-regulating user privacy, but over the last decade that has gone out the window. No serious effort has been made to bring the lay person in on the debate over their privacy rights. The industry has taken advantage of public ignorance to continually change the rules in whatever way was needed to exploit the latest opportunity.
And now we are starting to see the fallout from that. The public is willing to slow innovation to ensure that it does not happen at the expense of privacy. Sometimes they may be more strict than necessary, but they will be erring on the right side.