No? If they win it mostly flips who pushes the proposal to change the law and who opposes it.
It's usually much easier to pass a law than to get rid of it once passed.
What kind of government will on its own initiative want to give citizens more privacy not to say actively push for it against other governments? EU parliament cannot propose laws, so it would be nearly impossible to grassroor such an initiative
I think the implication was that there's something like a tipping point after which the surveillance leads to people not daring to oppose it in an organized way anymore. Which, at least to me, is a way more realistic danger than, for example, AGI.