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You may want to read this: https://last-chance-for-eidas.org/
That's a lot, I'll have a better look this afternoon. Here's my government's website on this feature
https://www.government.nl/topics/online-access-to-public-services-european-economic-area-eidas/everything-you-need-to-know-about-eidas
reading further, (summarising) the change is to no longer exclusively trust parties like Google to rule who is and isn't considered trusted online and instead delegates this to EU member states. This does not affect the use of encryption, or a safe dns provider. No worries about your data being recorded.
However, it does stop large organizations like google and Mozilla from abusing their position of authority to harm competitors availability and trust online
It sounds like you made up your mind in advance to support this. Mozilla (and I believe Google too) have a public and rigorous process to determine which certificates to include in their browser, and, importantly, which not too. This new regulation would enable governments to circumvent that process and force browsers to include their certificates, even if those are used to spy on citizens, or are insecure - like the government of Kazakhstan tried to do before. All this using a process without checks and balances.
Also note that parties like Google aren't trusted "exclusively" - you can always switch browsers if you don't trust them. That will no longer be possible with this regulation.
also, last-chance-for appears to be from mozilla and worried about article 45. I can recommend reading it for yourself. If there is one thing I learned in recent years its that orgs funded 95% by google might not be the most trustworthy when talking about internet regulations. So I suggest to not take mozilla by their word, cuz without google funding they're dead
here is the legal text if you'd like to read
https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=uriserv%3AOJ.L_.2014.257.01.0073.01.ENG
If you really don't trust Mozilla I recommend you to directly check out this open letter (which is signed by more than 300 experts).
Edit: fixed link, changed language
Looks like I might have had an old version of the doc. Clicking the link I read this morning I find a 404. After finding it again, I do find a doc where recognize what they're concerned about