While they claim E2E encryption, I seriously doubt they would offer this service entirely for free with having some backdoor or potential MITM breach that they likely tucked away in the ToS given the wide use of it it most of the World who pay for SMS/text messages: it just seems so incredibly unlikely to be entirely encrypted from a company that willing gave DMs to Netflix, used Cambridge Analytica etc... But even if it is encrypted, the meta data generated can tell you a lot too--as was the case with Pokemon GO--that may not directly benefit LLMs, but could help with creating dark patterns that make your AI companion (under the guise of an LLM) the 'must own' when deciding who to buy tokens/compute from.
Speculative for sure, but just look at the Twitter file leaks revealing how social media platforms willing work alongside intelligence agencies.
You don't have to trust Metas self-regulation, but you best believe the EU does not fuck around on such issues. Self-preservation is a hell of a motivator.
Billions of comments and private messages; billions of data points on user behavior and (more importantly) how they respond to manipulative UI/UX/content... Nothing useful there??