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Conflating contextual and targeted advertising isn't even the worse intellectually dishonest offenses of the social media apologists.

Would you not call Apple Search Ads targeted? This looks similar to Facebook's ad targeting system: https://searchads.apple.com/advanced/

No, Search Ads is keywords targeting, not "we build a whole profile of you and then use that". It has its own issues, but they're not the ones you have with Facebook's solution.

Haha no.

Except you don't get people buying fake ovens offline. There isn't a great analogy I can think of but there is a huge amount of ad fraud where it's profitable to fake an install, fake app use to generate more fake ad revenue ad fake installs, etc. So long as it's profitable for someone to fake installs and fake user traffic there will be a need for better value conversion tracking