Come on, this is just scaremongering. Newsflash: If you run a business, you are already responsible for adhering to hundreds of other laws in which the fines could reach millions. But you don't see people running around screaming that the world is ending, because they know that the laws will generally be applied fairly, given that a large economy (like that of the EU) relies on just application of laws to maintain stability.
Running a business, like anything else in life, requires the ability to make reasoned choices from somewhat ambiguous data. And the data here is somewhat ambiguous for good reason - it's to prevent businesses from exploiting loopholes and rendering the law ineffective. If you are going to crank the anxiety to 10 every time a situation like this occurs, you probably shouldn't be running a business or handling others' data in the first place.