> 1) Reduced number of services available to EU customers.
because everyone knows that it is better to not make no money at all, than just a slightly less than normal because your ads are not targeted.
> 2) EU users will be trained to click "Agree" without reading, because web sites would ask them for permission very frequently, and users do not have time to read web site policies anyway.
Sure, and it is their absolute right to do so, but other people finally have some control over their data, I especially like the fact that finally user can also remove/change the data about them.