It’s dumb.
Look at #1. There is no economic activity that occurs only within one state in the age of the internet and a global supply chain.
This is just political posturing of the worst kind.
It only says “activity”, not economic activity. Lots of things happen in one or more states that don’t happen in all of them.
A farmer selling milk to his neighbors?
Confined to one or two counties, never mind a single state.
Presently illegal under federal law, and may be a felony.