The alternative is that corporations can (or rather, can continue to) factor in selectively breaking laws as a line item in their operating costs, which is unappealing for certain people for a variety of reasons.
Escalating punishment based on repeat offense until we find a level that is convincing enough to stop you from offending is not a particularly new idea.
Fines are fine balance between motivational and liquidating.
I think 6% is quite a lot, even if one has 40% margin. Investors will be highly distraught and seek remedies from the current management. But for instance at 20% they will blame the regulators and push the company to fight in courts.
In any way, government wants to motivate change in behavior not taking companies out of business.
Should be six percent for first offense, 12% for second, 25% for third, etc.
Until the company fixes it's compliance or becomes insolvent.