> The settlement should reflect society's belief of the cost or deterrent

Settlements have nothing to do with either of those things. Settlement has to do with what the plaintiff believes is good enough for the cost that will avoid the uncertainty of trial. This is a civil case, "society" doesn't really come into play here. (And you can't "settle" a criminal case; closest analogue would be a plea deal.)

If the trial went forward to a guilty verdict, then the fines would represent society's belief of cost or deterrent. But we didn't get to see that happen.