I actually sorta wonder if "No, don’t make my ads more relevant by using this information" makes you more valuable, as they'll just display the most valuable ads they can to you.
On top of that, a lot of advertisers have tighter budgets and therefore want the ad on a specific segment to max out ROÍ. So the pool of ads that get shown to you go down. Which means you’ll be shown the same ad repeatedly. And FB does not make as much money off repeat impressions.
And on top of that engagement brings more revenue to the company as compared to just impressions. The whole reason meta exists as a much more profitable business over something like TV or radio for ads is that targeting brings better engagement metrics. And the difference is huge.
Now I am not sure how meta’s ad internals work, but the only way I see them recouping some value out of your selection is by showing you more ads. Maybe you go from seeing ads after every 3 user generated content items to every other item being an ad.
TLDR; turning off preferences doesn’t make you more valuable, but the company could squeeze out as much value from you as other users.