More specifically, both are already in effect, outlawing certain things, and designating certain companies as "digital gatekeepers" when they reach a certain threshold of users within the EU.
These regulations don't really specify what every gatekeeper needs to actually do (above the bare minimum), but say that once a company is designated as a gatekeeper, corrective action to prevent their monopolistic behaviour are going to be decided on a case-by-case basis. In practice this means that corrective actions can be something very significant (like iOS having to ask EU users to set a default browser during device setup instead of defaulting to Safari) or nothing, which is why this direct line of conversation shows spinelessness.
It's pretty much an equivalent of a judge having open discussions with a criminal about how the court should interpret the law to suit the criminal better.