It's both true and false. They don't do advertising with msg, and it's e2e encrypted. But they can use the metadata
If the claim is that they use the content of messages that's be one thing, but what kind of ad value is really pulled out of timestamps and phone numbers of who you messaged?
That said, collection of metadata can still be a problem, I just don't see the ad value.
This is one of those times where I feel like I'm annoyingly peppering someone with questions, hopefully it doesn't come across that away. I really am curious what ad-related use case I may have missed with regards to metadata.