The fine doesn't have to be higher than the company's profit to matter. If it's bigger than the profit from keeping the data and significant enough to warrant a

The fine doesn't have to be higher than the company's profit to matter. If it's bigger than the profit from keeping the data and significant enough to warrant allocating resources to care about it (tens of millions might be enough here), they'll have a small team work on data minimization not because it's the right thing to do, but because it's the cheap thing to do.