

It literally explains the minimum as asking the user for their age, DOB, or both. It then says delopers may not ask for more than the minimum data.
Further, the law states that if a developer intentionally breaches any part of the law (which would include the requirements) there is a $7500 fine per impacted user, and injunctions. Accidental breaches are $2500 per user, and injuctions. These are very high penalties in context - someone like Microsoft would be on the hook for trillions, and as such, corpos will not be rushing to play fools and test the law by asking more than the bare minimum.
If this is confusing then please seek out one of the many legal blogs/videos covering it by lawyers because I can’t break it down further than I already have.
Article points out its not just the tech sector either. I think three main changes (beyond ads being annoying) are predominantly driving this.
The article writer makes similar suggestions.
This is not good, because journalism is useful and reduction in their ad funding will lower the collective quality even further.