Even if you are right and everything is the same regarding surveillance and regulation: there are other important aspects that make the move to move european data out of the US worthwhile.

European citizens have the right to shop around. If they choose a cloud provider from a European country with higher data protection than their home country, they can send a message to their own government.

Swiss data protection law is an example of this. An Italian municipality could choose to use Infomaniak or Exoscale and increase their sovereignty and privacy.

"Unelected EU bureucrats"

Clearly shows you have absolutely zero idea about what you are talking about and just take your talking points from people like Elon Musk