I agree with you, investing in ethical tech is an important step.
However if you look at what is happening today, with everyone having a google/instagram/etc account, and the power these companies have over the competition (because of unethical tactics) it is not feasible to actually compete with them.
Legislation is needed to make *everyone* in the tech industry that operates in europe at the same (ethical) level.
This may not be directly applicable to the linked article, but I'm mainly thinking of the DMA and DSA which will go into effect in a couple of months.