The fact that the performance rating is good means your manager probably is acknowledging the work you do, just not to you. The manager input for ratings is hugely important at the FAANGs, so your manager is clearly telling others you're doing a great job. There's just clearly a gap here between you and her/him in that feedback.
Source: Am a manager at one of the FAANGs. I'm finding that everyone is overthinking every bit of feedback right now. Clearly minor feedback is hard to differentiate compared to major feedback. Likely due to the video communications barrier and that everyone is a little bit more alone with their thoughts. I'm being cautious on delivery because of it. There's also less ad-hoc thank you's and acknowledgements going around due to the remote barriers.
BAD idea with most managers. Your manager is likely to be vindictive and insecure if confronted like that. Even with peer reviews in place managers have disproportionate influence on your reviews, and promo/comp decisions (something you readily acknowledge). If the manager treats you with disdain, it's almost impossible to fully reverse that - it's just human nature, let alone do so through confrontation.
The best thing is to move on to greener pastures, of which there's vast abundance at any FANG. People can move around easily there by design: that way shitty managers get naturally de-staffed. Anything else is a sunk cost fallacy. Do yourself a favor, and go to a team where you're appreciated, respected, and can work alongside decent people. Do not tolerate this abuse. Otherwise your career will stall, you won't be able to do anything about it, and you'll feel miserable throughout.
Source: been there, done that.
Yes, the chances of retaliation from your manager is not insignificant.
However, the experience with a good manager is always fantastic. If I don't trust my manager enough to give him negative feedback, I don't want to stay in the team. Giving negative feedback is one of the few reliable ways to discover if you have a good manager. I'd rather know than not know.
Source: Also been there and done that (and paid the price, but it was worth it).
The worst thing, though, is to put up with it. I tried it and it didn't end well either, which put me on the path of "Well if it's going to suck, it's better to be vocal than not."
Nobody at any company they don't own should be under any illusions that they're viewed as anything other then replaceable labor. Your salary like everyone else's gets lumped into the expenses column, and your accomplishments don't appear on that spreadsheet next to your name at all.
Also, never forget that your performance is 'capped' by your management chain. While others may see that you are amazing, the best they will be able to do is poach you to their team, but they can't override your manager's feelings about raises, promos, etc.
(I feel like I'm talking to past me, who I really wish I could have told this to earlier.)
If your manager is keeping your performance results from being reflected upwards, you have a problem.
Becoming a manager because you think that is the only ladder to climb is definitely the wrong choice. I think a great manager is also a leader who takes an active interest in the motivation, growth, and outcomes of their team. If a management team worked the way you describe (manager's managers run the show and broker deals with their peers for micromanaged promotions), that would be an extremely dysfunctional environment.
In my experience it is always the direct manager who recommends someone for promotion rather than the next level up (although your manager's manager likely has final approval on budget). As a manager, I support and coach my team toward their career growth aspirations with regular performance & growth conversations. I also try to ensure my direct manager has visibility on the state of the team, but ultimately they are expected to be looking at a bigger picture and trust that I am taking care of my team.
They both need to praise and recommend you in order for you to be promoted (your manager has more to do on that). A bad word from either will kill any prospect of promotion instantly.
They both need to carry their weight for the team and the department respectively. They put a ceiling on what your team and your department can do and can get (work, budget, opportunities). In a bad case there's simply no slot for promotion so you can't be promoted. In the worst case your team/department might get gutted.