Except that Genshin will not be subject to it. Genshin Impact is made by Mihoyo, a Chinese company. In order to sell Unity licenses to Chinese customers, Unity Technologies created a joint venture called Unity China, and, as is standard Chinese government policy, it must be majority-owned and controlled by Chinese entities. The majority owner of Unity China? Mihoyo.

(On top of that, it makes no sense — Genshin would be a poster child for revshare: a single entity that has made billions off microtransactions and that can be easily audited in one go.)

That explanation makes no sense, because their changes were achieving the exact opposite. Genshin has a high ARPU, $0.01 per install will capture basically none of that. (Yes, $0.01 because the Unity fees are regressive, the fewer installs you have the more you have to pay per install. Genshin Impact obviously will fall into the bucket with the lowest cost.)

If the goal were to get a cut of Genshin while treating everyone else as a rounding error, they'd have changed the contract to be a revenue share. Or they would not have made the install fees regressive.