There's a lot of comments here suggesting this is a narrative from FB/Snap, but it really isn't. I was previously able to target adverts directly to the tiny audience of potential users of my product, and the return on those adverts was nearly 10x.
Overnight it entirely evaporated as a source of new customers and I don't know how I'd build a niche business again without it.
Advertising gets a bad rap, but I like to believe I am providing value to my customers and they wouldn't have found my product otherwise. Who was hurt?