It's not about physical presence. It's about whether the EU could do something to punish you. For every big company that is true. For example the EU can force V

It's not about physical presence. It's about whether the EU could do something to punish you. For every big company that is true. For example the EU can force Visa/MasterCard to stop doing business with you. If you're small enough, then the EU won't bother doing anything. If you don't even depend on any 3rd party that is vulnerable to EU will then you can fully ignore everything. That can be tricky to achieve though. No common money transfer methods and you must be self-hosting. Also, all of this isn't new. The US has been enforcing its will globally in a similar fashion for a long time.