The best outcome is to come up with a fundamentally better business model. Something that satisfies seller's desire to promote their products and customers desire to feel respected and important. Preferably cutting out a middleman and reducing costs of doing business at the same time.
A fundamentally better business model already exists: make users into customers. Google should charge users directly for the services they use. Then they wouldn't need to resort to all these underhanded tactics to try to monetize their valuable services. They could just monetize them directly.
Of course this is highly unlikely to happen now that everyone is conditioned to expect valuable services like Google's to be available for "free". But they're not free and never have been: the only question is how we pay the costs. Right now we pay those costs with our personal data and our attention, plus the time and effort we have to spend to try to push back against our personal data being monetized and our attention being incessantly competed for by advertisers. I would gladly pay in money to make those non-monetary costs go away. Perhaps I am an outlier and not many people would. But that just means we pay the costs in other ways that end up being even more costly than the direct money costs would be.
That’s why we need regulation. Under these market conditions, Google’s business model does appear to be the best for them.
There are a half-dozen plugins one can add to Ungoogled Chromium to browse the web in (relative) safety. It's not a nation-state level undertaking: six or seven figures.
The problem really comes from apps, which are loaded to the gills with spyware.
Any government action will be a compromise by necessity. Which is why I think EFF doesn't really push for it - even GDPR doesn't ban targeted advertising in full.
