This effectively means then that if you are in the EU and you'd want to use either Facebook or Instagram you'd have to pay for a subscription then because they presumably won't offer the free-service without personalized ads and since the law prohibits them from doing that then the only way to use either service will be to pay for it..?
It’s easy to show ads. Not that easy to make money from doing so. It’s as valid alternative as telling people to use horses instead of cars to reduce CO2 emissions. They both get from point A to B, right?