To some people in some places Facebook is actually necessary in order to have a social life or run a business.

We all know Facebook would die if it charged for access, because it would lose its ubiquity that makes it necessary for some people.

What would actually be good is if instead of charging for privacy, they charged for enhanced features - similar to how discord charges for Nitro (I am not defending discord, just using their payment model as an example)

The problem with that payment model though is then you have to actually develop features people want to pay for. And we all know Facebook is creatively bankrupt.