There's a really bad equilibrium where every country (or at least every country big enough to have BigTech workers in their country) figures out they can globally censor the internet by using the assets and people of those companies as leverage. Then we would have Americans having their internet censored by every foreign power except China and Russia, where BigTech have largely left.
And it would all be done under the color of local law.
It's not required that they do so in order to implement a France only block. They just geolocate the requesting IP, and give different answers based on that. Same as Netflix or any other provider geo blocking there content, with the same workarounds.
But also, in answer to your question, sort of, yes. 1.1.1.1 is any cast so that users will be routed to a server geographically near them. So then 1.1.1.1 a user gets in the US is quite literally a different one than a user in France will get.
The venn diagram of people who are technically savvy enough to be able to alter their dns records and people who can and will use a VPN to work around an ip geolocation block is almost a single circle.
And it would all be done under the color of local law.