If a service is monetized with ads, then the user is the product. We say that a lot but I think a lot of people still don't understand it, especially outside the tech sphere. "Engagement" isn't about building a better service; it's about serving more ads. "Driving user engagement" should be seen as synonymous with "psychologically manipulating users to use the service so they see ads".
Why not “providing value to users so they use the service so they see ads”? A lot of providing value is marketing and engagement. It can be manipulative and it can also be beneficial to the user - both should be accounted for.
Example please, how it can be beneficial to me, to be manipulated by ads.