I guess the question is whether selling targeted ads counts as selling personal information under this law. My impression is that it doesn't, which makes me wonder what the author was thinking. In fact, this will be worst for the smaller companies that don't harvest, target and serve all in-house, while the behemoths will be untouched.
It's not about Facebook Pixel, but the fact that ad companies usually don't "sell the data". They share the data with third-parties, and they can also give access to their advertising platforms (where the third-parties don't have direct access to the data).
Sharing the data is explicitly in the definition of selling I listed so long as the entity receiving the data uses it additionally for their own purposes. If Facebook uses it to provide more accurate targeting to a different advertiser, that sounds like using it for their own purposes to me.
Edit: to be clear, the Facebook Pixel is basically fine under this law so long as Facebook only uses the data for facilitating ads for the company the data was collected from in the first place.
The Facebook Pixel is definitely disclosing data to Facebook, even if they aren’t being paid for it. And they probably use data from the Facebook Pixel across many advertisers for Facebook’s own business purposes.