The vast majority of data gathered by Facebook isn't gathered
on Facebook. The vast majority of that data isn't
used by Facebook for delivering ads. The utility of Facebook is long lost. I'd gladly pay a few bucks to keep in touch with friends, maintain niche groups, have a Marketplace etc. But Facebook hasn't been that for over a decade. Its utility is all in tracking us around the internet, and selling our profile to the highest bidder.
Ads are fine, but if the idea is that in order to have a free internet, Facebook needs to monopolize our online presence and shape how we receive information on other sites, then that's hardly a free internet. Facebook ruined the internet.