Facebook derives valuable data about you through WhatsApp in three channels:
- analyzing the content of your discussions before they get encrypted and sent,
- the app acts like a Trojan horse into you smartphone. It collects data such as your device model, geolocation, contacts, text messages with all activation/verification texts from third parties, the list of apps you installed, when you wake up or go to bed, when you sleep or do other things in bed (thank you gyroscopic sensors), etc.
- Through the correlation of real-time data collected from other smartphones, Facebook also acquires who you met, spend time with, where and when.
As you can see, you don't get end to end encryption for philanthropic reasons but because that's simply not where the money is and that's what gullible customers ask for.
end to end encryption is like when you get offered tap water at the restaurant: for many customers, it provides then with a feeling of self satisfaction.
But it doesn't improve the quality of the food at all...
Hope I brought some light in the topic :)