Be careful what you wish for here. I would think that not many people on Mastodon would be sad to see Xhitter banned in Europe. But similar logic could also ban Meta and Google (or at least YouTube.)
Personally, I do feel that all of these actors have made the world a worse place over the last 10 years and perhaps the threat of banning would lead to some kind of reform that would do us good.
On the other hand millions of people are literally or figuratively addicted to these platforms and the next generation could be even worse.