Secondly, please educate yourself about what the government actually thinks about the ad business you’ve described as “shady”. Even if it was “shady” to show ads based on preferences and never reveal or sell those preferences to a third party … the elected representatives in government really like having social media ads as an option in elections.
Here, read this so you can learn how government actually influences social media to do their bidding - https://knightcolumbia.org/blog/jawboned
> The senator’s office told Katie that they really wanted to ban that practice but knew they would never get it through the Senate since so many campaigns relied on the tools for their elections. So instead, they said they were going to pressure tech companies like ours to ban the use of the tool in the hopes that if one of us did so, the others would as well. Although we did not stop using Custom Audiences entirely, Facebook and other platforms did dramatically reduce the targeting options for political advertisers.