Well, I can phrase it more accurately, but those are all separate things, despite what Meta would have you believe.
Having account functionality, so that you can store user preferences and subscriptions and whatnot is one thing. The user explicitly puts data in their account, by logging in and then toggling settings and subscribing to threads and whatnot. That is how you provide the service, it is expected functionality, and it is not a problem. If done right, you wouldn't even need a cookie consent banner.
Tracking, where you record all user interactions and build a profile, is a different thing. The user is giving you data, but they are doing it without informed consent, often without even awareness. That is not required to provide your service, it is not necessarily expected functionality, and it is a problem. It is arguably required to fund the service, but nobody has a right to a business model that breaks the law. Meta could make this above board by obtaining the relevant consent, but so far they have done everything they can to avoid it.
Tracking on third party websites, and tracking of users that don't even have a logged-in account, which is also something that Meta does, is a slightly different thing too, and it's a bigger problem. I don't think that there is any way this is legal, but enforcing this would hurt Meta immensely, and they know it.
Serving ads is not a problem. You can fund a website this way. You probably won't become the richest person in the world, but it's been done.
Serving targeted ads is only a problem because in order to target ads, you need to track. But it's not really a problem in itself. Because of this, asking money in return for not showing ads and/or not targeting ads doesn't solve anything, if you keep tracking. Meta could get explicit informed consent, track what happens on their websites alone and only to logged users, and then use that tracking data to target ads, and this could be made to work. But they don't want to, and they'll fight tooth and nail to avoid it, because it would be far less profitable.
Selling a service for money is also, obviously, not a problem. Again, you probably won't become the richest person in the world.
Meta is trying to convince everyone that user accounts are the same thing as tracking, that ads cannot exist without tracking, and that websites cannot be funded without ads. None of this is true.