So a literal slap on the wrist that doesn’t discourage or stop the actually harmful behavior.

Look, I get that certain demographics are terrified of another Arthur Andersen-esque collapse of a firm, but if we don’t punish companies to the point of possible insolvency, then we’re creating a moral hazard wherein more companies will continue engaging in harmful behavior because they know they won’t ever be held properly accountable.

If we actually harmed (or even bankrupted) Meta with a suitable fine relative to the harms inflicted, you’d see the wider social media industry (and adjacent tech companies) clean up their shit really fucking fast to avoid a similar fate.