EU AI Act: will open source get crushed by compliance?

I keep reading that the AI Act's high-risk rules are about to bite, and even small fine-tuners might count as providers. A friend running a tiny translation model is now staring down conformity assessments, technical documentation and post-market monitoring. That is months of unpaid work, not a weekend project. Do we genuinely believe only big labs can absorb this? Or is the open source exemption actually workable once you read the fine print? Curious how others here are preparing, especially anyone outside a legal department.