The worst thing a company can do is try to sell you more soap. The government on the other hand can literally ruin your life (or even end it in some countries).
The EU is doing a fantastic job of keeping everyone distracted by pointing the finger at the "evil American tech companies" while simultaneously doing the opposite when it comes to privacy from government...which is the real threat.
I could point to many instances of this but the easiest one is the EU commission currently pushing a ban on encryption.
If you think that Facebook is willing to part with the sole thing that makes them competitive... is crazy.
(Mind that this isn't about Meta in particular, it's just that Meta has been found in violation of general regulations, which are now enforced.)
I would rather Google and Facebook have an financial interest in keeping that data to themselves, than having a financial incentive to sell it outright.
Also, behavioural tracking is by no means the only road to advertising. We have managed to do this for centuries with much less intrusion and risk.
They used to not build profiles... and we had the most awful ads served... and performing search resulted in pages upon pages of results we're not interested in.
Why do we have to nuke everything and sow the ground with salt, just because some paranoid individuals want everyone to suffer their delusions? Especially, when the governments have more and more power to spy on us?