Highest fine was 3bn actually, and revenue=/=profits, meta's profits are closer to 54bn.
Thing is, europe isn't perfect on privacy, but it's also not a monolith. European software is still better for the european consumer on privacy because of europe's better privacy laws, and the fact that many EU solutions are move privacy-conscious, as that's a good selling point when you're a google/m$/meta competitior.
Eurocentric initiative that is ideologically bankrupt, one that reinforces a European superiority complex and is only backed by appeals to European nationalism.
It's eurocentric because it's a european movement, and I genuinely don't know how you got the other two points. Europeans want european tech because both alternatives, the US and China, are not aligned with european interests, it's that simple.