Two things to unpack here.
its not a facebook problem. its a problem that exists in many large companies. Apple for example doesn't give a shit about individuals. (you can see that if you slip off any of the predefined support pathways)
_everyone_ to google is just a thing to evaluated and advertised to. They are literally storing your every move and using to sell adverts, services and the like (how do you think they manage the "x is busy now, try later"?)
TikTok has literally hoovered up most of the 9-18 year olds, they even say as much when they try and pitch to advertisers. its the wild west on there, with all sorts of nasties flying around
Snapchat's USP is nudes & bullying, regardless of age.
Amazon: knowingly hawks fakes, dangerous and poor quality products, shamelessly copies and undercuts producers. But they have "free deliveries" and free returns, so its all ok.
There is nothing unusual about facebook, its just nobody likes them, and its fashionable to not like them.
Now to the point: instagram for kids. A fucking stupid idea. There was no possible way it could end good, even if it was perfect.
I imagine the thought process was: the kids are flocking to tiktok, we need them on facebook's platform. We are able to protect them better than snap/tiktok/other because we (facebook) have better controls than the rest. We also have some of them on instagram already, its better to make something for them, rather than having them there illicitly.
that isn't evil, its just hopelessly naive.