Actually, websites could "not track" BY DEFAULT (so no popup) and have a nice widget in a corner asking for consent to track, explaining why they need it, without this widget being obstructive...
The problem is definitly NOT THE REGULATION but the way that websites have become a data/cash machine...
The regulation could have been much better though. For one, it's unclear if Google Analytics cookies qualify. Spain and Austria say one thing, The Netherlands says another, so out of an abundance of caution websites put them everywhere.
I also think it would have been very feasible for the EU to define that a browser could ask for consent once and then apply that to many/all sites by sending a header. So the popup would only be needed for people without a browser that has implemented it.
The problem is definitly NOT THE REGULATION but the way that websites have become a data/cash machine...