How is a company supposed to determine what 'good' prices are though? Should they just be covering their costs? Should they just be covering their costs + x%? Sure they could base it off what the rest of the market is doing but where is the market establishing their prices?

I don't disagree that price gouging occurs in many markets - and I agree that an international GDPR would be beneficial to people - but good pricing also doesn't just occur naturally it's a product of experimentation.