For large tech firms such as Facebook, at least, wouldn't it be a trivial matter for these companies to avoid EU GDPR compliance altogether?
Many big companies don't actually "sell" any tangible property directly to users, and may only sell digital subscriptions instead. These subscriptions could be paid for with a credit card, for example, regardless of what country the card is issued in.
I don't understand why any sort of EU presence would even be necessary in these cases.
For example, why couldn't Facebook just dissolve all of its EU-based subsidiaries? Since it doesn't charge anything to its users, couldn't it just carry on allowing people to sign up from EU nations since it would have no legal presence there? What exactly could the EU do short of blocking the site from being accessed?
(Please note I'm not advocating for or against GDPR, I'm just wondering how it even has any real applicability to multinationals)