This switch does appear to have put off a lot of smart, thinking people as the newsfeed degenerated into a torrent of dopamine-spiking diarrhea. But those people don't tend to be the ones that click on ads.
[1] https://time.com/collections/the-cloud/3950525/facebook-news... [2] https://www.theguardian.com/technology/2015/jun/15/facebook-... [3] https://www.supersummary.com/the-chaos-machine/summary/ - the whole "Chaos Machine" book is excellent
2013-2014 the algorithm got more foused on non-friend posts aswell as making the prioritzation less about "likes" from friends and instead some opaque engagement metrics. Groups had to "promote" post to get their prior reach to subscribers.
Also videos started to be posted around that time?