Counterpoint: People could miss out on good opportunities without targeted ads. I'm interested in local theater and I've found out about several productions through Facebook ads. Also I go running, and there are a couple of local events that I only found out about because of Facebook. If advertising is partly about matching up possible consumers and possible suppliers then (and it pains me to say this) Facebook's targeting could be a good thing.
The theater thing could have been taken care of with an old fashioned email list. If the theather doesn't have one, but are relying on facebook, this is a Bad Sign for the long-term future of the theater. A weekly mailout can be handled out by one volunteer for free. When that one volunteer is unwell, or simply moves on, the handover is easy. Instead, someone is paying Facebook to do this. Maybe a volunteer is paying that bill as a gift/donation, but what's the succession plan?
I do local run runs too. When I go to an event, I tend to talk to the other runners. This is how I find out about the next event(s). Maybe they advertise these on facebook too, I don't know.
Perhaps I'm just salty because a recent high school reunion was *only* advertised on facebook. I've maintained my email and phone number since I graduated in the 1990s, long before Zuckerbeg had even though of stealing his little "hot or not" site from the Winklevoss twins. So why in hell would the reunion oganisers use facebook at all? I did eventually get word about the event (from a real friend, by phone) but my point is that facebook sucks for learning about things you might be interested in.