Agreed. The other comments talking about the "heavy burden" of complying with local laws are missing the point - these ads would still be profitable for Meta even accounting for the costs of compliance (which, after all, are primarily one-off cost of implementing an automated system, and which can be amortised over many users).

The fact that Meta is choosing instead to refuse the ads is therefore purely performative and likely intended to elicit precisely those sort of anti-regulation comments in their aid.