Successful claims under 512(f) are rare, but that doesn't mean the section doesn't exist. There certainly is a penalty for false claims brought in bad faith.

Online Policy Grp. v. Diebold, Inc., 337 F. Supp. 2d 1195, 1205 (N.D. Cal. 2004). The defendant subsequently settled for $125,000.

Automattic Inc. v. Steiner, 2015 WL 1022655 (N.D. Cal. March 2, 2015). Court awarded ~$25,000 in damages.

*Btw, I think you meant "stratospheric." I'm pretty sure the atmosphere is everywhere.