That's the California approach. Devices whose primary user is a child will have to provide a way for parents to provide an age range for the child, and an API that apps and app stores can use to check that so they can avoid doing things that are supposed to be age restricted.

It has been discussed a few times here, and those threads are always full of people proclaiming that it will be the end of free and anonymous internet for all of us and allow tracking everything we do by both the government and any site we visit.