Definitely the spirit of it, though some claim not the letter or it due to loopholes.
> The decline button means decline all.
It certainly should, but I never trust it does (with other dark patterns on show I'm all out of benefit-of-the-doubt) and go into to "details" to look for objection toggles. Not that I particularly trust those anyway, but that is a different niggle!
Decline all means decline everything the law says you need consent for. The Google dialog kind of describes it perfectly: "Decline all cookies for this additional purposes".
> Decline all means decline everything the law says you need consent for.
I agree, it should do. But many sites don't consider the “legitimate interest” crap (“we see your preference not to be stalked, but we want to anyway so you'll have to object separately”) to not be something that they have to get consent for, hence the option is to object/not rather than to consent/not. If you hit decline all without objecting to “legitimate interests” [sic], in at least some case, I suspect many, much tracking will still happen.
> The Google dialog kind of describes it perfectly: "Decline all cookies for this additional purposes".
IIRC Google's preferences don't include any legitimate interest gubbins at all, so that isn't really relevant. And just because one tracking nag screen does things a certain way, does not mean that many others work differently.
