A study of American history reveals the wisdom of governments defaulting to inaction. If the country is split 50/50 on an issue, the proper thing to do is debate. Not wait until it's 51/49 and then pass a law half the population hates. We love to complain about gridlock in Congress but, most of the time, that is the system working as designed.
Twenty-eight countries would be harder to do business with. But as it is, GDPR will be interpreted by each of the the EU's twenty-eight national regulators. A single market the EU is not.
Co-ordinating twenty-eight nations to enact a treaty is a huge friction. But perhaps that is needed to counterbalance the continent's instinct for useless, often protectionist bureaucracy.