If a company has a legit takedown notice for 10,000 items, 5 of which are wrong, it is really fair to fine them $750,000 despite having an accuracy rate of 99.95%? If it were 90% (which it probably is) then it is a problem.
Yes. When dealing in large numbers, it's more important to limit the rate of unintentional harm, not less. For example, a cure that has a fatal side effect 0.05% of the time might be acceptable if the disease was very rare and only administered to 10 people a year, but it would be totally unacceptable in a vaccine that was administered to 100,000.
For the large company, $750k is a drop in the bucket, but for one of those 5 people, you may have seriously harmed their livelihood. If the copyright violation is serious enough to issue a take down, I don't think it's unreasonable to ask that them to spend $10-30 in intern or paralegal time to verify the claim is legit instead of feeding everything through a script with no human verification.