If you or I did this, we would already be in jail for phishing plus whatever add-on charges the Feds could file. Meta has Washington in their pocket so this will never leave civil court. The penalty will be less than the money made, meaning somebody gets a bonus for being creative.
seriously, how does this not violate wire tapping laws? does agreeing to ToS mean you also agree to being spied on in a way that protects them? you are deliberately circumventing encryption for malicious purposes. if people got in trouble for DeCSS for circumventing encryption, how is this okay? pithy "because they have all the monies" replies not wanted.
To answer your specific question, this isn't okay. Both the government and large corporations have been given way too much power and we really have no hope of making any meaningful change until the people reclaim this power and put those in charge out on their ass.