HN et. al. have become really quite cynical about FB these days, but I suggest reality is something more pragmatic, however ugly --> yes, FB likes taking money from anyone, but I'll bet they really, really don't want to be in the business of content filtering, or having to make such decisions, and would rather wash their hands of it.
There's little pragmatic leadership coming from the powers that be over this stuff - obviously there's a good deal of noise out of governments concerning 'fake news' - but I'd argue it's much more difficult than one would imagine given 100 different nations, different laws, lobbying power, even aside from the concerns over really deciding 'what is fake'. I think a lot of TV spots might reasonably fall under the category of 'not exactly factual' as well.
If there were reasonable, clean and coherent direction from US gov (probably not going to happen), it would be easier. A lot of the EU thinking/legislation I suggest mightn't be specifically nuanced enough as well.
I am not cynical about this announcement. I'd wager FB would be somewhere in the range of 'happy' to comply with a set of reasonable bits of legislation, especially if was applied universally and coherently. In the absence of anyone actually doing anything, they're going to set it up themselves.
Impartial? Hardly, but it's probably better than nothing.
$130M is not chump change, this is a big deal. Perhaps wit a change in governance maybe something will happen. (I'm not making a political statement other than to say the Trump regime will never do anything about this).
Absent any real collective movement on this issue ... I think this is a positive step. It's better than the status quo.