The whole discussion here is about the idea of power dynamics. It isn't about the boring waste-of-time topic of just attributing "value" conceptually. If you enjoy playing Mozart's music on the piano, that has "value" to you, but "extraction" is a poor metaphor, and there's no power dynamics at play, it's just life.

The only thing interesting in this topic is the question of concentrated power and who has power to control decisions about how things are set up in society. Google has set up an arrangement where they are extremely profitable and a relatively small number of people get to decide how their platforms work, and the divided users only have the choice to take-it-or-leave-it (and network effects push them into it, schools and businesses and others use the systems, you better also, and the mere fact of all the value captured there makes it hard for competition to arise).

This is a question of organizing, collective action etc. The executives at Google can make decisions and they have a whole organizational system to carry out their will. There's no organized power for the users. The label "techno-feudalism" doesn't argue that value doesn't exist or that the serfs are literal slaves.