Meta is fundamentally a media company and they're using AI towards that end. They don't seem to be productizing their tech beyond that in the medium term.
You were soooooo close.
Meta is fundamentally a targeted advertising company, not a media company.
From the customer perspective, it works. The main problem is price competition for access to audiences. That's why fb revenues are what they are. The ads work, largely because ofntracmjng/targeting.
The amount of subscription driven media today is relatively a very small part of the industry.