Yes, you have; you're just misidentifying the product. Google, Facebook, Twitter, etc. do not make products for you and I, their users. We're just a side effect. Their actual products are advertising access to your eyeballs, and big data. Those products are highly optimized to serve their actual customers--which aren't you and I. The profit motive is working just fine. It's just that you and I aren't the customers; we're third parties who get hit by the negative externalities.
The missing piece of the "profit motive" rhetoric has always been that, like any human motivation, it needs an underlying social context that sets reasonable boundaries in order to work. One of those reasonable boundaries used to be that your users should be your customers; users should not be an externality. Unfortunately big tech has now either forgotten or wilfully ignored that boundary.
Yeap... you get it, the guy above you doesn't.
George Carlin said it best, "It's a big club... AND YOU AIN'T IN IT!"