Earlier quoted context omitted.
And that’s fine: that consumer can choose to opt in.
Except they can't. If a service is only profitable with personalized advertising they aren't allowed to say "if you want to use this service you need to allow us to do personalized advertising". Which means that in the future if there's a service I might want to use which is in this category and if I don't mind having my data used to personalize my advertising, I don't have a choice: the service won't exist.
It turns out that banning tobacco advertising did not lead to the end of Formulae 1 and making targeted advertising optional won't lead to end of social media either.