Also to add, this fine is concerned with the EU. I'm not sure why we care how much money Meta makes in other regions. EU accounts for about 25% of their revenue [1]. So in terms of yearly net income it then gets closer to about 15%. Again, the job of EU is to regulate businesses in the EU and not the rest of the world.
Makes perfect sense to me. The people who are banned and removed from all other platforms, will most likely end up migrating over to platforms that won't ban them. Other communities really have no need for such extreme lack of moderation, therefore the migration on their side never happens.