I (personally) think that's going too far. Targeted advertising has been really, really good for small businesses, and given that local newspapers are basically dead and TV/radio are expensive, these business kinda have to use Meta/Google et al.
And that's fine (IMO obviously). The actual problem here is the insatiable drive for growth from public companies/the markets, coupled with wide-scale equity ownership within the companies concerned leads to people doing mental stuff like the OP to drive those numbers up.
A bunch of this is fixable by massive, massive fines (on the part of the EU). The better solution would be for the US to introduce GDPR/DMA like regulation, as US based companies are more likely to follow their home countries laws, but that's not gonna happen any time soon.
The structural problems are harder to resolve, maybe lengthen vesting schedules and/or move back towards dividends to encourage longer-term thinking and approaches.