It helps, of course, that they don't have domestic internet mammoths putting money in their pockets to get away with whatever they want (USA) or a state sponsored big brother / AI yoke programme that depends on data being collected from all around the world (China _and_ USA).
If anything, the EU is trying to prevent external (and increasingly hostile) powers to use EU citizens data for gain or plain aggression (Cambridge Analytica & Brexit, for example).
Well that’s the political pitch. But there’s not a shred of actual evidence to support the claim that the EU cares about privacy at all.
https://www.eff.org/deeplinks/2020/10/orders-top-eus-timetab...
https://www.ejiltalk.org/a-dangerous-convergence-the-inevita...
The only thing it regulates is industries that the EU has failed to become competitive in.
But instead you have administration that wants to ban encryption and increase surveillance as much as possible. The idea that the EU cares about privacy has no credibility at all.
I have a suspicion you're talking from a USA standpoint, where antitrust is enforced based on provable harm. This is not necessarily the set of values that the EU population wants to live by.
The Dieselgate was already deemed illegal, making your remark a case of whataboutism.
If it was designed to protect privacy, it is very clearly failing to achieve that objective.
I agree that it could be more effective and I would welcome more effective policy in regard to data collection/processing and its transparency.