I can't speak to the market, but for me personally the restrictions on ad targeting and more specifically conversion tracking is what made me think FB loses a l

I can't speak to the market, but for me personally the restrictions on ad targeting and more specifically conversion tracking is what made me think FB loses a lot of value - not the reverse in user growth. Though that's not great for a long term window. It seems the most profitable users don't care and typically engage with the ads. Or they used to before apple came in and lowered the quality. Arguments about ethics/ads aside