What we're witnessing, mercifully, is the strangling of programmatic advertising. So much of the app install business — the thing that is most at stake to Facebook here — is in free-to-play games, which are going to be plummeting in profitability as those apps become a less effective means for the delivery of programmatic ads.

Programmatic advertising has so many negative externalities that we should all cheer the diminution of this industry. Breitbart and Infowars and a million other toxic cesspools pandering to all manner of human weakness wouldn't exist without programmatic, the means by which these sites both grow audiences and monetize themselves.