No, everyone does not understand that and companies were not transparent with what they do with the data, what data they collected and who they shared it with.

No, everyone does not understand that and companies were not transparent with what they do with the data, what data they collected and who they shared it with. Not to mention, if you consider it a payment-like transaction, surely you'll want to give consent instead of blindly trusting random websites? These are some of the problems GDPR solves.