There is separate sections for personal damages (to help you for the harm they caused) and punitive damages (preventthem doing it again). Depending on the type of case / location, the 70+m might just be what they're asking for but whoever decides the actual amount (judge in a bench trial, jury otherwise) gets to put whatever they deem fit.

The reason for asking for a ton of money up front in the case is that you can prime the judge or jury into what you think the case is worth and they'll likely go down from there; if you only ask for $1, they may only give you $1

In this case the majority of the damages are punitive but there is substantial personal damages too (i think ~25M personal ~45M punitive). They will make the case on what was libel / slander / defamation and the consequences to the judge and separately justify why they think the amount they suggest is appropriate. If the judge/jury believe they're correct that it is defamation, they may get a blank box to enter the amount to grant.