You actually think they care? I get ads for apps I already have installed. YouTube says "time to revisit this app".

Google knows I have it, yet they still take the advertiser's money and make me watch the ad. Over and over again.

That has long bothered me as well, like we have some of the brightest minds in CS working on…how to collect, analyze, and extract value from telemetry via targeted advertising, yet so much of it is still so awful and irrelevant. The best kind of ads would be like a great salesman IMO - help me solve a real problem that I’m having and teach me something that is actually valuable to me in a non-condescending pressure-free way, then let me conclude that I must have whatever it is. Ads today a lot of times just go off of keywords that I’ve interacted with recently. Example: I recently purchased my second double-edge safety razor. I now own two. I don’t need any more. Now I see tons of ads for other razors that I have an approximately 0% chance of buying. I might be open to trying some new shaving cream, moisturizer, or other skincare products, but all the ad algorithms understand is “user searched for / clicked on an ad for a razor, so show them ads for new razors for the next xx days”. There seems to be zero understanding of potential customer needs in the actual targeting. I supposed it’s better than showing cigarette ads to non-smokers, but it still feels so irrelevant that it’s just super annoying.

Another example: I regularly comment on FB ads making fun of the product or the ad. The algorithm does not understand humor or sarcasm, so it registers my comment as a positive interaction. I then get a ton more ads for that same category of thing (e.g. a massager where they use a static preview frame of a woman in yoga pants using it on herself to get people interested) even though I was making fun of it.

TL;DR it’s disappointing both that so much investment goes into ad tech yet it’s still leading to so many irrelevant impressions that people have a very low chance of interacting with. Ads could be much better targeted which would potentially make them less annoying if they actually helped people find things they’re interested in.

Some of the brightest minds in CS are working on maximizing ad revenue for their employer. That isn't necessarily the same thing as making the most relevant (whatever that means) ads.

Your interaction mocking the ad is engagement which may generate another penny of revenue for Facebook.