I think this is good, but also it will change things very little (parents will skip the age verification screen).

It’s not for technology to replace parents in their responsibilities to teach their kids how to cope with stuff of life.

Age ratings are an aid but still require passing good habits and developing your child’s ability to think and solve this for themselves. So not letting your kids get addicted to in-app purchases sounds like good parenting. Keeping your kids away from tablets and smartphones until they’re 16 is even better parenting.

Which, frankly, is fine. Regulations like this are great to help guide parents, but ultimately it is the parent's responsibility to decide what is fine and not fine for their child. I wouldn't agree with a parent that gets their kid into loot boxes, but that's their choice.

And if a parent is blindly skipping an age verification screen for their kid without figuring out why that age verification is there in the first place, then they're a bad parent. You can't really fix that, unfortunately, outside of extreme cases.