Whilst I agree with the sentiment, most definitely in the case of social networks funding old media for the privilege of linking to their news sources, I think in this case Meta "did something egregiously wrong" that was also illegal according to Australian privacy law.

(Aside: An amusing thought experiment is how voraciously would the Australian government pursue Murdoch's media empire had it committed a similar act? A $50 million fine would kill it's Australian enterprise, or at least be nearly-fatal, I'd hope...)