Companies did that and thoughtless website owners, small and large, who decided that it is better to collect arbitrary data, even if they have no capacity to convert it into information.
The solution to get rid of cookie banners, as it was intended, is super simple: only use cookies if absolutely necessary.
It was and is a blatant misuse. The website owners all have a choice: shift the responsibility from themselves to the users and bugger them with endless pop ups, collect the data and don’t give a shit about user experience. Or, just don’t use cookies for a change.
And look which decision they all made.
A few notable examples do exist: https://fabiensanglard.net/ No popups, no banner, nothing. He just don’t collect anything, thus, no need for a cookie banner.
The mistake the EU made was to not foresee the madness used to make these decisions.
I’ll give you that it was an ugly, ugly outcome. :(
Writing policy is not supposed to be an exercise where you “will” a utopia into existence. Policy should consider current reality. if your policy just ends up inconveniencing 99% of users, what are we even doing lol?
I don’t have all the answers. Maybe a carrot-and-stick approach could have helped? For example giving a one time tax break to any org that fully complies with the regulation? To limit abuse, you could restrict the tax break to companies with at least X number of EU customers.
I’m sure there are other creative solutions as well. Or just implementing larger fines.