> In a world where Meta uses user cookies to run targeted advertising: Users see ads they're interested in, and experience no other downsides from that targeting.

So your argument is that you don't believe privacy has any value, and you only care about second-order effects. First: Since you believe that, can I install a camera in your shower? Don't worry, you won't experience any downsides. Second: Users would do in fact experience downsides, because targeted ads exist to get them to spend more money and distort their selection (i.e. if I'm shopping for cameras, I want the best/cheapest camera, not the one that paid the most to get shoved in my face).