It's also naïve.

This is the same Europe that is gladly mandating age verification for citizens accessing online services, and that is made up of countries that routinely censor speech. There's also a variety of values that make up pan-European politics, both from a national and ideological perspective, that could make these efforts fracture.

If the idea is to not be subject to foreign pressure, maybe there's a short-term argument to be made for this, but like you say, they'll still be vulnerable to hardware imports, which is arguably the main vulnerability.

If the idea is to protect human rights on the continent, this does nothing.