That's only a valid paraphrase if you think prioritising making money and value for shareholders above all else makes you "terrible people".

Personally I doubt that any more than low single digit percentages of people care at all about E2EE. Even me, as a tech person, I don't care about it, and I actively avoid Signal because of the inconveniences that E2EE causes.

This has been a very big effort to implement, and FB no longer deploys those kinds of resources on vague whims. I think most likely something to do with regulations, and not wanting to be on the hook for user message content, but it's just wild guessing really.