Filling the coffers is just a nice bonus on top of dispensing some much-needed slap-downs.
No Microsoft (for two years now), no Google (for 6 years now), no Facebook (for two years), no Amazon (for a year) services here.
The reason I don't use their services is that I don't want to support shitty companies that have no respect for the people of the countries in which they operate, and I believe these companies are primarily responsible for turning the web into the ad-infested walled-garden shitscape it currently is.
There are alternatives for everything, and some are far better than what the big tech players offer.
The difference is I'm willing to pay for a quality service. Most aren't.
Besides, those companies would never leave the single largest trading bloc on Earth. Their shareholders would crucify them for it.
In that sense, the EU is doing these companies the favour, because they make so much money doing business in the EU that they'll never leave. They'll adapt and fall in line, like everyone else.
Trust me, nothing of what Facebook, Google, Amazon or Microsfot offer is irreplaceable.