From their ad copy they say 65% of all downloads come from app store search. If this is true, this is bad news for FB. A huge chunk of FB revenue comes from mobile app install ads bc that was the only method large app developers had to send users to their apps. I previously worked at a gaming firm that spent $5M/month on these types of ads.
If App Store search is effective, this will swing ad budgets away. FB still has all the demographic and audience info, but arguably none of that is important bc all you want to do in those types of ads is attract users who spent. Apple is at the top of the chain, they can do this better than FB bc they have reliable transaction data and FB has to rely on properly instrumented SDKs, then use machine learning to figure out who "might" be a spender, then have the marketing person optimize those ads. Wouldn't you rather just say, target anyone who has previously made a purchase in a game and be done with it?
Another note. I once created a niche utility app that I eventually had to takedown because as an indie dev it was difficult to rise above the ranks, even if the apps above mine were super shitty. I'm going to resurrect that app tonight bc for the first time this might be an effective form of user acquisition. FB ads were terrible bc it is not intent-based and Adwords were terrible because people don't search Google for apps then pull out their phones to download apps (or search in Safari then switch to App Store).