$1.4B is serious money though. You can't be paying that out left and right, and there's no way Meta made more than $1.4B on doing facial analysis of photos uploaded by Texans. This was an actual loss by them, and thus an error.
1.5 days revenue which they have negotiated to pay over the course of five years.
The right figure to compare against is their annual profit, which is around $45B. A single state in the US in a single enforcement action against them taking off over 3% of their entire profit for the year is a big deal.
It also seems to leave the door open to similar outcomes in other jurisdictions, compounding the potential loss.
Finally an advantage for the people of the US being a republic of states instead of a monolithic democracy.