Earlier quoted context omitted.
Except it says "whichever" is higher, so if they decided to fine you 10 million or 2% of revenue, and your 2% is much lower than 10 million, guess which one you're paying... > Up to €10 million, or 2% of the worldwide annual revenue of the prior financial year, whichever is higher See: https://www.gdpreu.org/compliance/fines-and-penalties/
They key part there is "if they decide to fine you...". The max(€10m, 2%) and max(€20m, 4%) are the most that supervisory authorities may issue as fines. But supervisory authorities have a legal duty to issue fines that are proportional which means than unless you breach the GDPR in a wilful and egregious manner you're unlikely to be fined that much (and if you are you can appeal the fine to a court who would reduce…
Is the law as written somehow vulnerable to some legal hack where all my revenue goes through Company A but all my data goes through Company B, so that Company B has a small global revenue despite being extremely profitable to the controllers of the companies?