It’s not. While Facebook will exfiltrate and cross reference your name and number from associates’ address books, this wildly different than keeping a log of everywhere you travel, the time you wake and sleep, hundreds of tagged images of your face, all the news you read, and how readily you can be influenced. Primarily to influence your mind and behavior for profit, but all available to international governments to keep and eye on you, too.
I agree that Facebook and Google are too powerful, and that there should be much better protections around consumer data. Support the EFF, talk to your representatives.
Fatalism serves no one but Facebook and Google.