This was not a secret agreement with CA, this was CA using a publically documented API which was returning the data it was designed to return, but CA using and retaining the data improperly.
Later Facebook decided to significantly restrict the data that apps can pull out of their system (arguably making the system more closed and harder to compete with, but protecting that data from misuse).
They exposed too much of the social graph through their developer APIs. I can see an alternate universe where they are fined for exposing too little.
Like I said, I don’t use Facebook so I don’t care much about them. I don’t think they add a lot of value in the world, but their billion plus users must feel differently.
But I don’t understand why, on the basis of Cambridge Analytica, the company should be fined out of existence.
You can hate Facebook, and you can not use it if you do hate it. But there are a billion plus people who apparently don’t hate Facebook and might be damaged by Facebook being dismantled by the government.