All true to a degree, however in AU at least, there's a couple of caveats.
First, all physical endpoints must be identifiable. There are some exceptions, but the ACMA carrier licensing regulations around voice and data mean that in 99% of instances, much of the data you're describing must already be logged and made available when presented with a warrant. Much of the infrastructure is already in place. For example, it is illegal to activate a mobile SIM without providing ID (drivers' license information). Your phone number is bound to your SIM identity so when you're making calls, it doesn't matter what the cell infrastructure or backhaul is doing, the CID and IPND data is traceable through all the carriers involved. All services hooking into the PSTN are required to provide valid endpoint location and responsible person data, even IP voice.
Secondly, with data, the vast majority of Internet connections in Australia are either PPP or mobile. Most residential services (e.g. DSL, NBN, residential fibre) are delivered as PPPoE/A, directly linking an authenticated username with all its account details to an IP history. Actions taken by that IP are easily cross-matched without worrying about matching physical circuits. HFC cable, EoC, fibre ethernet or other L2 tails are uncommon for residential internet and when in place, service providers are still required to supply similar means of match-up to comply with ACMA requirements. Mobile broadband acts similarly, the accounting systems make tracking easy.
All of this stuff is already in place. All the ISPs I'm aware of are very particular about traffic accounting and logging beyond even what is required by current law. The laws being proposed (as far as I can tell) increase the storage time and expand beyond the scope of the accounting data required now, almost to the point where you're going to be logging netflows, archiving proxy/DNS logs and hanging on to them for a couple of years - huge amounts of data. Unfortunately, all doable, all scalable off the back of existing diagnostic and accounting systems. I've been involved in scoping some of this myself for my employer.
It'll be expensive, which is what ISPs and CSPs are griping about loudest right now, but there's no crippling technical limitations, no matter how much I wish there was.