Why would it not be made? Each person has agency in the decision to share their data. If it is indeed _my_ data then _I_ should be able to choose to sell it or move on. Forcing a companies hand, I predict, will just move more content behind a paywall, decrease access to legitimate information and further fringe conspiracies.
But this thing where big sites say "data or else" isn't a proper negotiation. It's a contract of adhesion, and those get regulated for good reason.
If things get moved behind expensive paywalls, that's a shame. But if there is more truely free access, or content behind paywalls that charge as much as an ad is worth, that can be a net benefit.