I'm like 99% sure this has always been the "ideal" business model. Only take a chance if you can afford it. Something, something cost-benefit analysis.

There was a stink about a car manufacturer and seat belts (I think) a few years back. They decided the cost of a few settlements for dead people was less than the cost of fixing the problem.

This is now, has been, and (unless we eat the rich) always will be the way it is.

5% of FB revenue (55B) is $2.75B which is less than the proposed FTC fine of 5B.

Making it be 5% of profit and not revenue would make it hurt even less.

Laws don't seem to matter in this day and age as they can be gamed by money and/or legal tricks. Only way to fix the issue is to get rid of corrupt and unethical government and business leaders. Implementing something like GDPR would only be adding to the arsenal of bad actors.