It's right in the text of the EO: they intend to argue that the state laws are preempted by existing federal regulations, and they also direct the creation of new regulations to create preemption if necessary, specifically calling on the FCC and FTC to make new federal rules to preempt disfavored state laws. Separately it talks about going to Congress for new laws but mostly this lays out an attempt to do it with executive action as much as possible, both through preemption and by using funding to try to coerce the states.

There's a reasonable argument that nationwide regulation is the more efficient and proper path here but I think it's pretty obvious that the intent is to make toothless "regulation" simply to trigger preemption. You don't have to do much wondering to figure out the level of regulation that David Sacks is looking for.