Facebook is nothing more than a data collection agency. They serve as the same function that IBM served the Nazis in the thirties.
Facebook would have very useful to the Nazis. Especially in running down Jews. Your are right in your assessment. Facebook has tremendous power over people. One diffrence, though is that they give up their privacy willingly when they download the app. I got off all of the social media a while back because of it. I would rather control my data than put it out over the net where I don’t know where it goes.
Facebook replaced Equifax in numerous cases providing INFO to insurers like auto and homeowners.