That's not what's being discussed. My comment asserts with certainty that a small business will never be punished as leverage against the upstream big corp.
It's not Microsofts fault if customers use it to store GDPR relevant data. It's Microsofts customers using them as an external data processor. It's the companies that are using O356 for such data that will get fined.
The fine is not to send a signal to Microsoft. The fine is a punishment for letting Microsoft process personal information when it's know that they do so in a way that violates the GDPR.
The €100 fine to that one website that included Google Fonts wasn't an attempt to get Google to put Google Fonts in a European holding or whatever. That was never going to happen. It was to punish that website for breaking the law.
Before anything like this will hit the news, there would first be a massive lawsuit that will probably take months or years. I wouldn't be surprised if Microsoft would throw lawyer money to the company involved just to make sure the lawsuit doesn't end setting a precedent against their product.
Never underestimate German courts and their willingness to uphold privacy laws when they get challenged.