It's none of those, at least to them. It's literally their business model, and how they extract the behavioral surplus to turn into huge profits. And as very few people are aware of how it works, and why they should opt out, it's become the new default way of doing "tech companies." Extract all the stuff, process all the stuff, sell all the predictions from the stuff.
It's not an accident that every new app seems to be trying to collect as much as they possibly can. You're not even the product - you're just the field of raw material they're trying to collect and process.
Unfortunately, the only answer I can come up with to object is to opt out of all those systems, which leaves me a bit lacking in some areas.