Exactly... They could have just been patient and stuck it out a bit longer. Companies who go through such quick growth don't have time to update their methods as quickly.
I almost never pay attention to ads and have never purchased anything from ads.. until Instagram. The targeted ads on Instagram are unreal. They've shown me products from local creators/shop owners that there's no way I would have found otherwise.
I still get a lot of crappy ads and get bombarded with the same product I just purchased at times. But, it's by far the most customized/useful ad experience I've had.