Though this is just one step, equalising content in different countries’ stores removes an inequality,so it’s a step in the right direction. And the legislation faces up to a simple reality – that if content can’t be bought locally & legally, there’s plenty of ways to acquire the same content, illegally, just a click away.
In time this’ll doubtless lead to universal pricing, in Europe, which is what it is. In the UK, it probably means paying less for music. Of course, there may be winners as well as losers – there’s no guarantee that the universal price will be the lowest price.
The legislation appears not to have the support of artists – which can’t be right. And somehow *more* regulation always feels like it’ll result in *less* innovation, in spite of everybody’s best efforts.