No. Fines are punitive and intended for deterrence. You're thinking of reimbursements (cost recovery and damages). The latter is intended to be proportional to real world harm/costs, the former need not be.
A traffic law violation could cause no harm, but you'll still get fined for it.
Some jurisdictions even impose fines based on how deep the defendants' wallet is, calculating the amount that might serve as appropriate deterrent/punishment based on their financial situation. Fining a billionare $50,000 for literring will still not serve as a deterrent, but doing the same to a minimum wage worker would unfairly financially ruin them.
This is about emotion and resentment about social media. I get it. I hate social media too. But it's absurd to levy such a fine for petty data misuse - especially considering this is just going to pad state coffers. The state wasn't harmed here! If you take the position that New Mexicans will never be the same again, then that $11,737 per New Mexico resident should go to the residents. All of it. Write them checks.
And they reduced it, so we're already admitting that the penalty is based on vibes and not simply an unbiased calculation. So it's just the whims of this particular judge that says the right number is $25,000,000,000.00 and not $250,000,000,000.00. Sounds like that number is no more justified than $25,000,000.00 or $25.