I remember many people on Hacker News being appalled that it could go as high as 2% of global revenue, and that others here pointed out that 2% global revenue was merely the maximum, and that most fines — especially the initial ones or for relatively minor breaches — would be much lower.
That link gets posted all the time and yet the web is still littered with non-compliant consent flows, so whatever fines there are, they aren’t enough.