What actually matters here is whether Apple will be forced to make technical changes to comply with Australia's law, and the answer is probably not much for most users outside Australia. The ban targets social media platforms themselves - Meta, TikTok, YouTube, Snapchat and others are the ones who need to figure out age verification and enforcement. Apple's role is mainly as a distributor through the App Store, not as an enforcer of age rules on the apps themselves. Tim Cook's "world-leading" comment was standard diplomatic praise, nothing more. He wasn't signaling new product changes or policy shifts.
The previous answers are right that you shouldn't expect global device lockdowns or sudden app restrictions. But I'd push back a bit on the framing that this is purely symbolic. If Australia's restrictions actually work and stick around, it creates pressure on those platforms to develop better age-verification tech - which could filter down to other markets eventually. Apple might indirectly benefit if the platforms invest in better identity checks, since that reduces liability concerns for everyone.
For you personally, if you're outside Australia, basically nothing changes right now. If you're in Australia with kids, the platforms themselves will handle the restrictions, not Apple. The bigger question is whether other countries follow Australia's lead, which could reshape how social apps work globally over the next few years. That's the actual domino effect to watch, not some Apple announcement that isn't coming.