Couldn't the internet community at large create their own sovereign nation, w/ an elected parliament to basically overrule the EU, if the EU enacts legislation for the 'internet', or other nations the internet can sever all connections w/ that location and they can go build their own internet if they choose or they can back down w/ their demands/unethical laws?
Or heck the internet gov't could impose 'tariffs' on nations in EU, on all data to pay legal fees.
I can see a lot of American businesses just stop allowing EU traffic, that would obviously cut back on a lot of issues.