The Australian government is targeting Meta on a wide range of issues and will keep doing so until they transfer more money to news oligarchs to compensate them for "loss of business model".
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...)
I am vehemently against it, but no matter which party you choose to vote for, the result has been the same.