Except that those "most people" are the ones who are directly responsible for electing the current crop of leaders who have put us in this position, so I'm running a bit low on universal love and compassion, sue me. Moreover this is, as others have pointed out, not a new loss of privacy, just a new monetization of the existing loss of privacy.
So yes, there are better solutions involving the law, but unfortunately the innocent lambs you're defending are the ones calling us nerds and buying IoT junk!
Those "most people" also elected the bunch that put the law there in the first place. But it wasn't a campaign issue for either side, so it seems silly to bring up. This is a consumer protection / rights issue and the best way to handle it is clearly through policy, the free market won't do well for the vast majority of people especially in the ISP industry.
So yes, there are better solutions involving the law, but unfortunately the innocent lambs you're defending are the ones calling us nerds and buying IoT junk!