It's about time Facebook should start taking action against fake profile. They should make use of AI to separate them out.
If Facebook were using an open protocol like Ostatus anyone could make a peer network that is better than Facebook and actually compete, but their userbase is entirely locked into their platform. On purpose, of course, thats why investors value FB so highly. Its entirely against their interests to enable competition.
How? Unless the fake profiles manage to generate significant amount of ad fraud along the way, the advertisers still end up paying for actions, not impressions.
Why would an operator of a fraudulent network click on ads, sign up for third-party newsletters, install promoted mobile apps or do whatever else the dominant ad unit in his/her feed would promote?