Yeah, I think the idea of the law is fine. If you imagine "Operating System" to mean "things like Windows and iOS, or Desktop install of Fedora", "Application Store" to mean "Microsoft Store or AppStore or the like" and "Application" to mean "Word and Doom and stuff like that" then it's fine. Especially if you keep in mind that there isn't any actual verification of the age, it's simply set by whoever sets up the account

Most of the issues only arise because in the bill "operating system", "covered application store" and "application"/"developer" have very loose definitions that match lots of things where the law doesn't make sense.