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It seems high, but you have to consider

It was either deliberate, or caused by a deliberate policy of not checking to make sure that they are obeying the law.

MS makes so much money in general, and would have made so much extra money in the long term from extra people using their services (They bundle Bing into I.E. which they bundle into Windows) that a 'sensible' fine would be completely unnoticed by MS.

It's why some countries have speeding fines as a % of income. A $100 fine is going to reduce how much poor people speed, but the rich will just continue to speed and pay the fines as required.