Some of this is confused. Not all courts are article 3 courts. Their judgements are considered judicial and treated as such. For example, the PTO trial and patents board is executive.
I have not looked at the details of the proposed court here but the claim that it must not be part of the executive for it to be a judicial redress (Even as Europe defines it) is likely wrong. Whether it is judicial redress is about the kind of process you are afforded (including level of neutrality, etc), not about which part of your government pays the judges
I think the EU will accept this. Geopolitically, they are in a bad spot, relying heavily on US shipments of natural gas. With the Nord Steam explosions, even if the EU and Russia reached a deal, there would still be a huge delay in gas shipments.
Two previous agreements were accepted by the EU but then rejected by the EU's highest courts when the organisation behind the linked article sued for breach of data protection regulations.
Right now there is no agreement and the world hasn't ended, so certainly no obligation to accept it.
This might actually be the plan. The EU accepts proposal after proposal, knowing full well that they all are illegal. Each proposal limits the GDPR impact for about 2 years, the time needed to do the whole legal dance. Then the next proposal comes along, starting it all again. This way, you push the problem far enough in the future that a next political generation has to deal with it.
I'm sure the executive, the Commission would love to accept it. I doubt the judiciary will though, because I don't think it'll be compatible with EU law.
I have not looked at the details of the proposed court here but the claim that it must not be part of the executive for it to be a judicial redress (Even as Europe defines it) is likely wrong. Whether it is judicial redress is about the kind of process you are afforded (including level of neutrality, etc), not about which part of your government pays the judges