Many developers don't live in California. This is unenforceable for people who live outside the state.
They will have to pressure Apple to withhold your monthly earnings if they want to fine developers.
So, all you 1%'ers who make more than $2500/month, should be worried.
You'll notice that the OP lists their location as "Silicon Valley", so he does need to worry.
These privacy laws generally don't seem difficult to comply with... although... IDK, if I include a few Facebook related buttons (IE, a "Like" and a "Share" button,) without any further explanation or anything for users to agree to, would that be considered in violation of their laws? At some point the user must have set up a Facebook account and seen the proper notice...