"Meta said it rolled out end-to-end encryption "for all personal chats and calls on Messenger and Facebook" in December. And in 2018, Facebook told Vox that it doesn't use private messages for ad targeting.1 But a few months later, The New York Times, citing "hundreds of pages of Facebook documents," reported that Facebook "gave Netflix and Spotify the ability to read Facebook users' private messages."" 1. "Does Face…
My guess is that FB stores the keys to reverse the encryption. The point of e2e is to block any third party to to see your conversations by sniffing packets. Not to stop Meta themselves.
Whether or not Facebook actually implements it this way is a great question.