I was 14 before I was given access to a credit card.. and was given a dire warning about when it could and should be used.
If parents can't lock out purchases so they have to physically approve each purchase, then yes, they should be able to get refunds and penalties... But if they give their children the password to buy/download apps unsupervised, they need to understand the consequences (and really, how the heck do you not realize that unlimited purchasing power on an app store is a possibility?)
The first story in this article is about a kid with "the mental development of a 7 year old"... Well.... I wouldn't give MY 7 year old a credit card! Supervise your children! If it's too much work to monitor their purchases and approve each one, complain to the platform for more control. It would take Apple, Google, Steam, etc. <120 hours of work to implement a "Monthly budget" system if people demanded it.
Btw, how do you miss that 3,200 pounds is spent over 3-4 months, if that clears out your bank account? I'd agree that 14 days is a bit short for a refund period, but asking for 4 months to return digital goods that have been thoroughly used by that point..... might as well shut down all the game studios...