"they can still make money, albeit less, serving non-targeted ads."

- would they be able to make as much as they do now? I think it would be significantly less.

From Meta's official Financial Report for 2025 [0]:

Total Revenue: $200,966 Million

-Advertising: $196,175 million (97.6%)

-Other rev: $ 4,791 Million ( 2.4%)

Presumably significantly less. But GP's point is that reducing advertising revenue doesn't remove the incentive to maximize engagement.

	▲	asadotzler an hour ago \| parent [-]
		In fact, it would almost certainly encourage them to keep you engaged even longer in an attempt to make up some of the money lost with the end of targeted advertising.