You're probably right and it isn't necessarily a huge flaw. But, the failures are interesting. Especially when it involves a subject where the for / against lines are so clearly drawn. If Facebook is failing at such an easy subject, then what else are they getting wrong?
Their definition of successful targeting is different than yours. Back in 2019(?) Google published average display ad click rates of 0.03% I think. If FBs targeting gets them to 3% (100x better), that’s hugely valuable to them, while you still see mostly non interesting ads.