The results of the legislation -in regard to cookies- are inconsistent, annoying, unevenly enforced, create a moral hazard and two-tier system, and I presume have negative overall utility.
This is why I do not consider the law to have been written with good intentions. The intentions were claimed to be good, but I don't see the lawmakers having had put in the necessary effort to ensure privacy improvement. Nor admit there are shortcomings to the legislation that need either fixing, or perhaps scrapping the legislation. Did they really intent on exerting enough effort to write the legislation well? To shoulder blame if it does not work out? To take the responsibility? Or to shore it up as situation develops?
Right now I perceive the cookie warnings to be merely EU's advertising banners - "Heeey, this is EU taking care of you!" - plastered all around the web just like banner ads used to be plastered all over the web. Morally the same - pompous self promotion, except paid for with legal rubberstamp rather than money.