There are probably enough regions where it is required or will be required soon, that it makes sense to just get it over with.

The Internet is more or less becoming a locked down, controlled and fully observed thing for end users and citizens, so adapting to that world sooner and working within it is just sensible future-proofing.

This also lets them more safely target older users with ads, purchase requests, etc. and new integrations for gambling and other high ROI systems.

GeoIP this nonsense. Legal liability is solved as a "good-faith effort" and those living in jurisdictions where this doesn't apply (or use a VPN) don't need to be stripped of privacy.