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While I definitely am in favor of having businesses listed there if nothing else to let other people with the same issue feel some solidarity, doesn't the fact that Instagram already has such a low rating not motivating any changes make it unlikely that anything would change if the parent company were listed as well?

Hasn't Yelp mostly replaced the BBB as the standard company that aggregates reviews of businesses? You could try leaving Facebook a 1-star Yelp review.

What would that do? Facebook doesn't sell anything to users. They sell marketing tools to marketers.