I don't see how this is being on the wrong side of an ethical issue. Perhaps it is (somehow, after years of this being in the news) shocking that that data is collected about your life, but Facebook isn't doing the collection. Anyone can buy that data and many organizations do.

Facebook hasn't actually done anything here that is harmful, not with the non-shocking data collection from third parties and not with the data you willingly give them by using their service.

Even the fake news situation, which is another supposed reason why Facebook is evil, is purely a result of the hubbub over having human editors. When the human news editors were around, the news links were interesting, of decent quality and unbiased.

Facebook really hasn't been on the wrong side of any moral or ethical debate, just the wrong side of public opinion (or at least the opinions of writers who need clicks/pageviews).