I think we saw how well this approach worked with the cookie popups post GDPR. It doesn't really work. At this point I feel most people have some idea of how their data is used and sold and if they continue to use Meta apps, its because they think the tradeoff is worth it. There are either no alternatives or strong network effects that make Instagram, Facebook, Whatsapp etc a worthwhile choice in many cases and we know it.
Sadly, I think you're right. I recently got one of those "Can we share your data with our partners" popups and the number of partners it declared (in a tiny font) was... *1,583*. People either do not notice this stuff or just do not care.
The problem with the cookies thing though is that it didn't mandate that websites should work well WITHOUT cookies. The cookie popups aren't bad but often the only option is "necessary cookies". We should have a "no cookies" option, too.
