If US companies are made unable to operate within the law in Europe, I wonder if this could lead to Europe growing its own alternative Internet service ecosyste

If US companies are made unable to operate within the law in Europe, I wonder if this could lead to Europe growing its own alternative Internet service ecosystem just as Russia and China have each done. Given that the likes of Yandex and Baidu are not at all popular in the US, I think the threat of reciprocation by other countries is low, but the threat of economic damage due to alienating the Eurozone is high.