Going to call a huge bullshit for this. This was made by a pro-US tech company to allow them to walk all over Europe.

The key thing: That's if you can collect.

Tech companies shown time and time again, they will commit a serious injustice, get a warning a few years later, and then hit a lawsuit a few years after that. After 10 years of spinning in legal courts, they finally get a fine.

That fine would be negotiated a dozen times. During that decade, the tech company has already bribed/spent millions arguing that they did nothing wrong.

This is only for major tech companies that survive. There's nothing stopping a tech company from bankrupting itself to avoid collection.