On one side I'm not against using/collecting data for the purpose of better content (=better engagement) or more targeted ads (still better than looking at ads that have nothing to do with me). Though I am for it to be anonymized (ie separating the personal data from the generic things like names from items bought) however that is pretty much useless from the moment you enter your name anywhere as they can basically fingerprint the data and match it up to you anyways.
On the flipside of this, I don't like the direction this all is going - sure I like tailored content, but at what point do we reach a threshold where people are just shoved content down their throat since they cant find stuff outside these mechanisms to broaden their view and interests.
More related to this topic, as long as the data is there, someone will analyze it, and socioeconomic targeting has been done for a while already (you don't market 8K curved suround sound TVs to 90 year olds) this is just a step up. However I'm a bit scared of when we reach the tipping point on content in terms of targeting: what we might want to see vs what it might want us to see.