Every argument of the form "why would we piss off advertisers" or "why would we make our users unhappy" is void, because they are a monopoly. The mechanism that would make them responsive to customers is completely absent. Everyone hates Facebook, because it sucks. And everyone uses it, because it's a product with the most powerful network effect conceivable. There is a way to have competition, and that is to create a standard for interoperability between competing social media platforms. In theory, the US government could legislate something like that, but in practice that's unthinkable. So it has to come from Facebook itself. That's the only thing that could convince me that Facebook gives a shit about it's users. If you really think people are with Facebook because they like it, prove it. Let them leave. Give them the choice.