I think the point that's missing from the discussion is that adtech companies should be targeting solely on placement (i.e. what ads should show up on a particu

I think the point that's missing from the discussion is that adtech companies should be targeting solely on placement (i.e. what ads should show up on a particular website based on the content of the website), and not select individuals (i.e. based on user interests regardless of the place on the web an ad is shown), when faced with this kind of legislation. This is exactly how marketing worked before and how people can go about it now, as you describe, through traditional advertising markets. I'd personally prefer it that way in general, but legislation is necessary for them to optimize on those restrictions.