However it does make it a bit more difficult for them to spy on a conversation, which is arguably a good thing.
* Who are you messaging most (best friends, family). If they like stuff, you might like the same stuff.
* When are you messaging people (awake time > profiling)
* Messaging companies (obvious, what are you into)
You clicked an ad about Product X, you're messaging your friend B from a store that sells Product X
-> Serve ads about Product X to B.
Combine this with the frequency of your chatting and your location (at least based on ip) and the other little bits of stuff users give about themselves, Meta doesn't really need to know specifically what the contents of your messages are.
In the mass of their users, an informer smart guess is more than enough.