the fines that would be levied via potential sherman law violations would negligible so that is for sure not a deterrent

It would be understood that any action under the sherman act is unlikely and as you say, the financial penalties are tokenistic.

The non financial parts, which include mandated restructuring and penalties to directors including incarceration however, are not tokenistic. They'd be appealed and delayed, but at some point the shareholders would seek redress from the board. Ignoring judicial mandated instructions isn't really a good idea, current WH behaviour aside. If the defence here is "courts don't matter any more" that's very unhelpful, if true. At some point, a country which cannot enforce judicial outcomes has stopped being civil society.

My personal hope the EU tears holes in the FAANG aside, the collusive pricing of chips has been a problem for some time. The cost/price disjunction here is strong.