> Meanwhile there are also plenty of people creating havoc by filing lawsuits against every company they can, adding up to billions demanded on just the first day.
No, the EU is not the US, no lawsuits have been filed. Some individuals have reported some companies to their local data protection agencies, just like the GDPR says you should. No money has been "added up to billions", because the DPAs don't sue for damages, the levy fines to ensure compliance.
Huge difference. If you're going to critique the GDPR, please understand how the legal and regulatory systems of Europe work first.