I don't know why my opinion is so out of the mainstream but I really think it's good that people's information is used vs not used... I think it's a great boon for ads to become more relevant instead of less relevant. Wasting time looking at ads that aren't for me sucks, it's much better if they could actually improve my life. Literally think making children have less relevant ads is doing them harm.
You could make ads relevant the old fashioned way: asking people what they are interested in or actually doing consumer research, instead of simply using their data they "give up" with a freemium service to make ads more "relevant". I used quotes on 'relevant' because I have never, ever, felt that advertising has suddenly become wildly more relevant or successfully targeted with the advent of social media or google. Most ads are still garbage and completely irrelevant to my interests; the targeting is usually pretty pathetic. I find more relevant advertising in a magazine or when it's self managed by a blog (the owner straight up just selling adspace old-school style) than online these days.
It's not like it needs to work the way it does online right now or it can't work at all. Facebook just likes the way it works because that's their business model.