The reject all is already a thing. (Well is not all all, but reject all except necessary but those doesn't matter much, they are not tracking).
That said usually is not called this way as obvious, sometimes is just "reject" without the all, "accept only necessary", "decline", etc or you have to close the banner etc or they use some other confusing pattern.
Can I ask why?
Like I am not a big fan of the social network part, with people sharing stupid stuff and other things but for finding a job or so they can find you and see your experience and so on it didn't seem that bad.