I really don't think that's a cultural difference. I also grew up and live in the EU. What Google wants just does not solve the problem in any way.
And it's also not actual regulation, just new TOS from a company many are basically forced to interact with.
It might not "solve" the problem, but I'd expect it to significantly address the problem no?
I've heard much criticism of it being too heavy-handed, but I don't think I understand criticism that it won't improve security. Could you expand on that?