I agree, but I'm also - sad to say - less than surprised to find engineers at a Big Tech firm taking a high-handed, not to mention narrow and ill-informed, approach over the issue and trying to impose their will on a global scale. My worry here is that, Meta being Meta, they carry quite a lot of influence and may actually gain some traction.
EDIT: I'll add a bit more colour here. At the core of our platform we manage a database containing billions of legacy timestamped records (or events, if you prefer), adding more and more every day. Without even giving it a great deal of thought I guarantee you that this proposal will cause us more problems that it solves and will distract us from making more valuable investments of time and effort that would benefit our business should it be implemented. Sure, we can no doubt fix all these problems, but we've got better things to do. I imagine that many other businesses would be similarly affected and would take a similar view.
I wholeheartedly oppose it.