I didn't know about the fines and can't find a lot of details online. It seems meta got fined for something else, but it was about 1B, which is less than 1% of their revenue.

I think the smaller companies or individual which did stuff like that got their life ruined. The pirate bay admin got fined multiple millions of dollars.

So if I agree it's not a "free pass", it's still a cheap pass many others didn't get. Makes me realize how, as mentioned by other comments, copyright laws are a tool for the powerful to oppress others rather than an actual universal right.