Does it matter? The UK can't enforce anything outside its borders. Just putting another nail in the coffin of UK tech startups that aren't in Financial Services.
Unfortunately if you're a tech hobbyist in the UK your best option is to leave, especially if you're any good with technology. There are plenty of other countries that will treat you far better than the UK ever would.
For those who want to read more, there's a great archive site here: https://clp.bbcrewind.co.uk/history and an interesting book from MIT Press (https://mitpress.mit.edu/9780262034036/now-the-chips-are-dow...) which covers this period.