I strongly disagree. Due to institutional closeness I don't think the watchdog is independent enough. It won't be more than a fig leaf and will not be able to resist surveillance ambitions. Could as well be controlled opposition even if this lead to a change.
Sure, better than doing nothing, but if you accept this as is you have been served a bad deal.
Almost by definition a regulatory watchdog must also be government. Do you have an alternative? Giving private organizations this power ISDS-style seems worse on every level.
Sure, better than doing nothing, but if you accept this as is you have been served a bad deal.