Additionally, the privacy review process for new products/features is extremely stringent and time consuming. Product teams have been hamstrung significantly, with some engineers I know complaining that they're not even able to get half as much work done as they used to.
And not also sued and reported for criminal prosecution?
Because if someone didn't particular want a job at facebook, but interviewed for the experience and got the job or had been working there and wasn't happy there and was ready to quit-- the threat of instant termination alone may not be that much of a deterrent.
I think focusing on a rogue employee as the threat it missing the mark. The real threat is the ability for huge corporations to legitimize institutional access to data ("business reasons"), and to fight the legal fight if they are caught doing something wrong. Moral hazards of this mode of failure arguably has much more cumulative societal damage (e.g. Cambridge Analytica).
In other words, I worry less about an evil employee reading my messages than a scaled up corporate machinery milking all my data for dollars that feeds the machine back and also can fight any fight at the courts, DC and the public eye.
Facebook has nothing approaching a monopoly on attention, social media, messaging, anything really. All of their products have serious, billion-dollar, hundreds-of-millions-of-users competitors. Even if they disappeared in a puff of smoke I don't think any competitive landscapes would change much.