It requires every Operating System and "App Store" to know the user's age. It requires every piece of software installed to receive the age-range token. It could be catastrophically bad for the open source community - the bill does nothing to define how these tokens are communicated and received. The largest players in the industry can use their market share to exert control over how it happens and bully anyone that doesn't get on board. For example, Google could tie it to the Play Integrity/Services and effectively kill 3rd party roms and possibly even open source app stores like fdroid, or all side-loading entirely if it was tied into the Play Store enough.
The bill isn't specifically a privacy dystopian nightmare, but it is still a dystopian nightmare. We need the government and mega-corps to have less influence and control over our devices, this gives them more.