For the sake of argument, lets assume FaceBook is a top-grade product that people currently don't pay for with money. It exists because advertisers pay FB. The targeting of ads to individual users allegedly results in a high CTR or whatever. Without targeting, FaceBook can still sell ads but they will be less targeted, and presumably have a lower CTR. That means they will be less valuable than other forms of ads and the ad spend will be adjusted accordingly. That seems bad for our "free" service. OTOH if we stop targeting in all areas, there will be no medium that is "better" to put ads and so the spend will likely move in proportion to where peoples eyeballs and ears are, as things used to be. That might actually result in more ad spending in areas like radio, TV, and any other medium that never gained the ability to target specific people.

Maybe that's a good thing for us consumers.