"By using this site, you waive your right to local EU and UK laws"

It doesn't work like that, but I bet Elon will try.

Besides some countries in the EU already have electronic ID identifiers. They can just contact them to verify I'm claiming who I am without this weird "yeah we need a picture of you, and look through your webcam". Banks don't need to do this to verify who I am, so I don't see why "X" needs this weird privacy invading process

Thankfully I don't care about X (lol), and with more and more of my industry moving to mastodon I'm quite happy that I need it less and less to keep up with papers and articles

GDPR would definitely prohibit transferring the ID data to third parties outside the EU. They could replace this mechanism with European ID verification services (via eID or video verification). But I can't imagine many people would go through that hassle, just to keep using Twitter/X. Then again, this Elon man is a literal fountain of terrible ideas, so who knows at this point.

In EU there are ways to verify yourself online, for instance if you want to get a credit card, etc. This is normally handled by a third-party, which more or less just checks per webcam if the info they got from the other company is the same as what you show them. I don't see any privacy issues here, that I wouldn't have seen in processes of other companies, that already do something like this.

This isn't something new and I would guess that this is the case with most modern countries.

Well facebook already asks you to verify with ID in Europe, has been doing that for years