This argument doesn't work when you consider that the payout isn't $125 per person, it's "a small percentage of $700m divided by the number of claimants (capped at $125)" per person[1]. Equifax doesn't get hurt any extra no matter how many people claim the money.
[1] https://www.theverge.com/2019/7/26/8932398/equifax-settlemen...