Too much private information collected for that ads will be catastrophic sooner or later.
I don’t think that people got the real wake-up call yet. For example imagine someone getting addresses of all the Jews in town and doing something nasty. Before that you needed a lot of people to gather info for such an operation, now the information part will be trivial, but there is still an IRL part. Or getting the names of all people with severe peanut allergy and adverting them something with undisclosed peanut consents. I think there just have not been a sufficiently motivated actor to cause hard beyond making you buy more, selling scams, paying more through individualized pricing or discriminate based on some parameters.