It is good to diversify but people should really not make Europe out to be some sanctuary. European governments (and thus companies) are still going to cooperate with America. When the day comes when they do not, America's reach will still be long.

Never mind the fact that incentives in Europe are not so different from the USA. It may look that way now, but often moving across the globe just means trading one villain for another.

Still a good idea, just a word of caution. If people make a move such as this based on some assumption about the stability of the European regulatory scheme you may want to examine that assumption with a little more rigor.

This. The privacy threats are somewhat different, but they still stem from government. The EU has tried to attack end-to-end encryption more than once, and they will try again. They are now requiring logging of IP addresses, and ever more tracking of use activities. The legislation requiring age verification is the camel's nose in the tent - expect them to require full ID soon. Etc.

All Western governments have clearly decided to restrict individual rights to privacy, political advocacy, and free speech in general. The way this is happening simultaneously in so many countries seems a clear indication of a coordinated effort.