The thing that stuck out for me was:

An exception exists where the cookie is "strictly necessary" for the provision of a service "explicitly requested" by the user – so cookies can take a user from a product page to a checkout without the need for consent. Other cookies will require prior consent, though.

It's another one about advertisers and privacy isn't it? I'm sure the companies that rely on dubious privacy for their advertising will either fight this one or adjust the way they offer their advertising.

I don't see it as too much worry - I can't imagine anyone will follow such a law to the letter even if it is introduced. It's silly and there are not enough free prison spaces so it CAN'T work.

And there we were thinking democracy was a thing of the past.

Users have always had the ability to turn off cookies on their browsers. And for many years, they have had the ability to decide on a site by site basis.