It's about time... over a quarter of a century late.
The only aspect of this whole scheme that is about a free market is the market in global tax rates. For unfathomable reasons multinational corporations are allowed to shop for the lowest tax rates. And if they are big enough, they can negotiate down from there.
Ireland took their special status as an economic investment zone, intended to encourage investment in real-life production jobs, and twisted it upside-down so that it was all about accounting fictions.
It is clear that this will be a huge international incident. It can be pitched as "grab money from big US companies", But taxpayers (actual taxpayers) everywhere should be cheering.