I think you’re right. Microsoft is perfectly able to split its operations. They’re doing it now in China in a much more drastic fashion, and they seem to have been preparing to do it in Europe for a few years now.
It is true that both the EU and China are swiftly heading away from this unprecedented era of technology companies being able to act as they please abroad without impunity. It is an era that the US, which benefits from this arrangement greatly, understandably does not want to leave.
But what matters is why they are doing this, not that they are doing it. And in that regard it is much harder to find similarities.