1. All my content would stay in the old region. If I ever go back, I will still have all that content.
2. In my new region, content will be matched. If there is matching content, I will have a license for it. Otherwise, I will lose access to the content until I change my region back.
I accepted and that’s what happened. Some of my old playlists are full of content I can’t play here (for the better playlists, I just got the EU version of the song and deleted the US version). I still see most of my apps and movies/shows in library. Some apps that are US only stopped updating until they eventually stopped working.
https://support.apple.com/en-gb/118110#:~:text=Availability%...
>[countryd] combines multiple data such as current GPS location, country code from the Wi-Fi router, and information obtained from the SIM card to determine the country the user is in.
https://9to5mac.com/2023/04/25/ios-16-restrict-features-base...
Since I imagine you have a European Wi-Fi router, SIM card and GPS location, there's a good chance you'll get the EU features.
Wifi router isn't set to an EU jurisdiction to get higher power and get through some walls.
There's so many edge cases, there's no way they'll get it perfectly the first time. It's like asking for getting sued.
The DMA Chapter 1 Article 1 section 2 makes it clear that the requirement applies to services offered to users “established or located” in the EU.
You can be located in the EU without a residence permit or citizenship perfectly legally (and it’s not even clear whether being LEGALLY located or established in the EU is a requirement).