That's a strawman. But even if the businesses you work for are decent, they are nevertheless in competition, a "race to the bottom" if you will, with unscrupulous ones. And even if the consequences of a hypothetical overhyped-but-mediocre yoga class are not dire, there are many products for which this is not the case (smoking, skydiving, sugary drinks, surgery, etc).
His mission is not profit driven. Sure, he has to make money to keep the place open, pay teachers etc. But his mission is to get more people doing yoga. Whether you think yoga is a worthy cause or not is besides the point.
Facebook and google are hugely important for him so people can find out about their offering. I know this guy is an outlier, but I think it’s an important thing to remember that good people out there are doing good things with the power of Facebook ads.
I guess I just want to point out that not all advertising is unscrupulous. My clients do business honestly and sell something that is highly valuable that people want. If people click on my ads, I know that they are buying an experience or product that they will enjoy. Not to say there’s not a lot of shady stuff going on like you describe, because there absolutely is. And believe me I am more against it than anyone because it makes every one of us who do business honestly and promote other businesses who do the same look bad.