Google already got fined $170M for COPPA violations in 2019. Twitter was fined $150M in 2022 for disregard of privacy laws. Meta settled for $1.4B in a privacy suit just last week. TikTok isn't being singled out here.
So they paid the equivalent of a few day's revenue. Ticktock is being singled out as sort of the new 'red scare', 'how dare a non american company be this popular'
For instance, G Suite is now so thoroughly integrated into school workflows that, even if they collect nothing from students while under 13 (ha!), they are setting kids up to harvest their data in the future by forcing them to learn how to perform basic tasks only on their apps. It's like advertising fruity cigarettes or vapes, but for data.
It's not just that all of these companies harvest everyone's data, but so many of them are specifically targeting kids from as young of an age as they can.