'users who clicked on also clicked on' is at the core of a lot of the tracking Apple is banning in many cases. This is why Google is pushing FLOC and 'anonymous' cohorts in Chrome.
This happens on every single HN thread on this topic. I'm not a total expert but there is a lot of arm chairing that's wrong.
Tracking is profitable and more so than contextual for a lot of direct response in a lot of industries.
Not in all cases, e.g. usually not for brand advertising. But it works.
For my clients is the direct data I have - and we have extensively tried every single other option. FB is the only platform that delivers strong ROI and we use the targeting iOS blocks. And yes - it's always retorted - I know 100% the donations come from the ads, it's incredibly simple to track even as simple as making a new page or individual product only linked from that ad.
So far this change is definitely effecting our ads and FB seems pretty buggy with the new ads manager changes. But they 'always find a way.' But so far it's not as bad as I originally thought it would be.
Plus you can still upload offline conversion data. most purchases have full contact info. We'll see if Apple comes after that, but they would then have to go after the entire ecosystem including Visa.