The Internet is a space: it does not belong to anyone as a whole.

What the EU is trying to enforce is accessibility of certain internet content on their land; it's like building a wall on a parcel of land you own, to prevent stuff from entering from elsewhere. Wise or not, it's not an unreasonable kind of desire.

There is no 'the internet'. As much as my cypherpunk heart would want there to be, in the end you have hosts (clients, servers) and subscribers (people) and those are located somewhere, and the laws of that place dictate what you can and cannot do.

This is also why bulletproof hosting never ends well.