European privacy laws are not ridiculous, they are pretty much the only ones still trying to protect our rights in an uphill battle against pervasive digital encroachment as pioneered by the likes of Google & FB
Both google and facebook provide additional information to people then what is otherwise available. Any one using either of these services knows very well what data is collected and can choose not to use these websites if they didn't want their information used this way. The European privacy laws essentially amount to censorship
One way to look at what the privacy laws can do is this: A scammer could potentially scam users on these forums out of bitcoin. The scammer would receive negative trust and there would likely be a lot of scam reports on them on the scam accusations page. The scammer could then request to have the negative information about him removed via the privacy laws, allowing him to attempt a similar scam. I don't think it would work on this forum because you cannot generally link someone's identity in RL to their username here, however the principle is the same.