My company spends about 100x more money with Google on ads than we do on Facebook ads. Why? Because every time I test advertising on Facebook (outside of retargeting), 90%+ of the engagement looks like garbage. I buy likes, I get likes from people that are clearly not target customers. I boost posts, it makes no sense who seems them and who comments. I could never figure out why people that are clearly not target customers would ever "like" my ad or engage with me. Beyond that, we get no conversions/ROI. It makes no sense; ergo I cannot trust the FB ad platform.
Defend the "reasonableness" of your ad platform all you want, but realize that your brand is completely tarnished and it will take serious changes before you ever see much of my money.
That said, I am not hating. I wish Facebook ads didn't suck, as I'd gladly pay you as much as I pay Google if I got similar ROI.