Facebook's actual product is its targeted advertising algorithms that advertisers pay handsomely to exploit. Facebook's advertising product has improved massively over the past two decades.
Indeed, Facebook's advertising algorithms are so good that Facebook should be regarded not as an advertising platform but rather as a rootkit and firmware upload tool for the human mind. Facebook's algorithms are quite capable of making a critical mass of the population believe utterly anything and, if if prompted, to act on those beliefs even in ways that go against their own interests.
What Facebook sells is the ability to control the course of society. That is their business, and they're doing very well with it.