Lootboxes have been an overall terrible idea for a while.
They seem moral on the surface because most games only store things like cosmetics in them, meanwhile you other games where actual equipment, perks, and powerups are stored in paid lootboxes. That's just seedy.
Overall though, I don't approve anyway. The AAA game industry is usually found secretly bragging about "whales"; addicted gamblers dropping huge amounts of cash for digital content. It's not even the same as paying for the games themselves because games are actually protected as goods. Instead this is in a whole new subcategory of goods within goods, creating a new sort of legal ground.
Honestly as slow as the legislative process is for so many parts of the world.. it's going to take some time for meaningful laws and resolutions to be passed that the public actually agrees with. You're going to get a lot of flipflopping.