The people who have obviously made their preferences clear that they prefer not to be profiled and tracked that way, because the possibility is still there for those who consent to tracking.
Apple fighting for privacy is BS (look at China). Ads networks not affecting privacy is BS. Reducing effectiveness of ads not affecting small business is BS. Moving monopoly in ads market from one group of companies to others being good for people is BS. People understanding impact of all of that on their privacy, small businesses, cost of digital apps, etc is BS.
Both sides spend many millions of dollars to try to swing public and regulatory view of the problem.
I don't think anyone claimed that reducing ad targeting did not affect small businesses. What they claimed was that small businesses do not have a right to target ads against user preferences.
They were victims both times of big tech power plays.