Both companies are pulling way back on targeting categories and have been for a couple years now. Most of it rolls up under privacy these days but when they started they were pretty coy about it. Eventually, they'll exit entirely.

You can see this in the ad products they are both pushing: Advantage+ on the Meta side and PerformanceMax at Google. Marketers ability to target with these ad products is severely curtailed. They are opaque black boxes at best.