Kevin Dominik Korte on Nostr: The cost to privacy and security will fall on everyone, as most companies implement ...

The cost to privacy and security will fall on everyone, as most companies implement the strictest regulations necessary to comply with everything.
As for the financial costs, I'd be more concerned that, in the short term, the watering down will provide noticeable benefits to the affected companies. That, in turn, will lead to repeated calls to abolish privacy regulations, just like tax cuts and trickle-down economics in the US.