Have you actually read the law in question? It seems fairly sensible to me, it's the implementation guidance that was ridiculous. The banners we have at the top of every page now are nothing but cargo cult, everyone copying what everyone else is doing without ever applying any critical thinking.
I worked for a large publisher and they wasted a vast amount of time and limited release dates to implement the cookie law - all that could have been far better used in improving their sites.
Real solution is fixing client software. But, meh, all popular browsers are made by companies that are - one way or another - heavily dependent on advertisement (thus, tracking).
This is not about NSA.
Private companies gather more and more data about us without any control (especially the US-ones), so it's good that EU tries to regulate that.
http://en.wikipedia.org/wiki/Information_privacy_law#United_...
Then it should be easy to offer some, rather than just saying that it exists.