They are slaps on the wrists AND shake downs. The fines aren't to 'correct' bad behavior. Look at the EU delivery apps being found to participate in a cartel. They received a large fine but still allowed to keep what they gained and merged companies.

You know there is such a thing as law, "EU" can't just block a merger or take away their profits beyond a certain fee.

The fee is the only enforcement mechanism in the law. If you decide it is worth for you as a company to pay the fee and continue to break the law there isn't much that can be done except change the law to increase the fee.