> due to overly complex regulations such as GDPR, there are no EU-based alternatives to speak of

You're talking specifically about AWS competitors, right? I don't think it's related to GDPR. It's really that everybody uses AWS. Would you say that Canada doesn't have a competitor to AWS because of their regulations, too?

Regulations like the GDPR precisely try to give incentives for competitors. Which is hard to do because people/companies fight to use the US solutions and don't care about privacy, just convenience.