The major loss would be Youtube. Youtube is possibly the greatest educational tool the world has ever seen. Yeah there's some bad stuff, but you want to know how to do almost anything from tying your shoelaces to building a mega laser first-hand from an expert, and watch it be done? It's on Youtube, for free. Remove advertising and it dies and all of that goes with it. Even if the EU, say, buy it off Google and take it into public ownership, which the US government very probably wouldn't allow and also isn't really part of the EU's philosophy, you're still going to have to continuously pay creators for their work and hosting costs, forever. Otherwise I think it's a great idea. Maybe just carve out an exception for educational content