While the calculation is not wrong, there are other factors at play in Meta's decisions.

First, how likely is it that similar rulings happen in other states or countries? While proportionally to the population the fine is significant, it isn't over Meta's global market. It can be only if similar fines will happen at a high enough rate.

Second, what is the global cost of adapting the whole platform to the ruling? (Assuming they don't build exceptions for users in New Mexico like Apple does)

Both factors have an influence, so if the fine is unlikely to be replicated, which it probably is, and the cost of adapting is exceedingly high, which certainly is, then Meta will continue their practices.