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So if it isn't perfect, it isn't worth doing it at all? Is it better not to have GDPR and just let them not even get fined? I agree that fines are basically the only effect it had - but that does not mean it isn't a step into the right direction.

I agree that it could be more effective and I would welcome more effective policy in regard to data collection/processing and its transparency.

I've seen plenty businesses make policy changes based on it, and you don't get to declare that somehow that isn't an argument that's allowed to be made. (And these businesses avoid getting fined and making headlines, silence in that sense isn't a sign of failure of regulation)

We only fine those companies who break the law. Most of them don't break it.