Incorrect. It protects PII in the EU. It has nothing to do with EU citizenship. It doesn't try to enforce outside the EU either. If you want to move PII out of the EU you have to agree by the rules given. That's not the EU trying to enforce anything outside of the EU but you making an agreement to move data outside the EU on certain terms. It is not the same thing as trying to force EU law on non-EU.

I don't know why people keep repeating this myth. Laws like these are old as dirt. It could as well have been about blood samples from Denmark used in research in the US: the samples are protected by Danish law and to use them in the US you have to agree to certain rules. Again an example of you saying you will follow certain rules to be allowed to transport and use the samples outside Denmark, not Denmark forcing their laws on anything in another country. You are free to not sign anything and not use or move the blood samples or PII anywhere.