Not so sure. The government has placed a A$50M incentive per violation discovered, I heard. That sounds like a powerful incentive on the companies to outsmart the kids.

If a kid uses a pseudonymous account and fraudulently bypasses an age verification system, I have a hard time believing that the company would be fined $50M.

I would guess that this massive fine is more for situations like if a company can be shown to have wilfully allowed a violation or else has been grossly negligent. (But I have not read the law!)

violation would be: not making a reasonable effort,

violation would not be: a kid bypassing their reasonable effort.