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Lemmy.world (and some others) were hacked
(lemmy.world)
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It's more that many people expect those handling their data to be seen to follow the correct procedures and be trusted to handle the data in a fair, transparent, safe and secure way - and in addition to protecting their users, companies are probably encouraged to abide by the regulations because it is very easy for anyone to report where they think action needs to be taken, and regulatory bodies may be more lenient where correct process has been followed.
If I chance a speeding or parking ticket I can't be fined nearly 20 million pounds, although I wouldn't trust some parking companies not to try it! (I'm not saying that would be the case in this instance.)
https://gdpr.eu/fines/