The argument back then was that they were overreacting, that we didn't understand how Europe works, that you'd only get fined after repeated warnings about violating procedures etc.
I'm sure the private person was dumb for doing what he did, but that doesn't invalidate the general point: unless you're sure you that can afford making these kinds of mistakes, don't provide a service on the internet that might be used by EU citizens.
The benefits, whatever they might be, just don't justify the risks.