It's a completely different product.

As much as privacy is a legitimate concern, it's also a modern form of angst. So the existentialist mode that says "oh, you either have chicken and wait to die or have the beef and wait to die", which is demodé, gets replaced by "you either have chicken and get massacred by the social media-advertising-mass scale espionage nexus, or..."

(Angst isn't necessarily a bad thing either, but you should know...)

Less time wasted? I mean regardless of what I do, they will continue collect data about me. It is just a question of how much I personally contribute and how much they acquire from my friends. The real gain is you are less addicted to news feeds with the cursed infinite scrolling. A big gain for me.

It's much more limited, WA is e2e encrypted so only metadata is accessible.