I point you to section 63C 1 in that document:

      (1)  For the purposes of this Act, age-restricted social media platform means:
               (a)  an electronic service that satisfies the following conditions:
                        (i)  the sole purpose, or a significant purpose, of the service is to enable online social interaction between 2 or more end-users;
                        (ii)  the service allows end-users to link to, or interact with, some or all of the other end-users;
                        (iii)  the service allows end-users to post material on the service;
                        (iv)  such other conditions (if any) as are set out in the legislative rules; or
               (b)  an electronic service specified in the legislative rules;

but does not include a service mentioned in subsection (6).

I see nothing in there that talks about young people, identities, flogging anything to marketers, or treating people as product.

I don't dispute that that happens. All I'm saying is that this act is not solving that problem, isn't intended to solve that problem, and is actually part of a larger push to censor the internet for Australians.

This act, as written, requires all interactive websites that are accessible to end-users in Australia to implement age restrictions. And in order to implement age restrictions they must remove anonymity. Which is the point.