No, Facebook's side needs to verify that the image is you, and that you're not just hashing a photo of the McDonald's logo.
if there is no match you gave them no data of interest. if there is a match then they already have that image anyway and you didn't make your privacy situation worse, except maybe telling them that you claim that is you, now allowing them to associate more images was you, but that's probably an acceptable tradeoff if there is actual revenge porn of you out there.
Regardless, I think your point stands.
If they don't have it, but are doing verify-after, then the image won't actually be blocked right away. The proposed system would be of pretty marginal value. Some value, yes, but low enough that facebook decided it wasn't worth building that system.
You can't avoid having a tradeoff somewhere.