>think that the punitive damages should be rooted in punishing Alex Jones

Correct. This is what happens when you go to court and play by the rules and stop doing things when you get an injunction against said behaviors.

When you tell the court to fuck off and you can do whatever you want, repeatedly, this is when you get the deserved massive punitive smack down for being an anti-social dick.

The problem you have is the complete and total lack of ability to put yourself in the shoes of any of the victims here that had got injunctions from the court many times only to have them be ignored and for have the abuse to then scale up even further. Millions in fines does not solve the behavior, he was making more than that in scamming people. A fine that is lower than profits is just a cost of doing business.