This is purely anecdotal, but with my daughter and her social group, Facebook stopped being a service of interest to them quite a while back. Not because of data issues, but because (to use my daughter's words) "Facebook is for businesses and old people".
Kids these days don't give a shit about privacy. Why would they?
I'm not so sure that's true. At least, it's not true among the kids that I personally know.
What is true is that they have a more pragmatic view of the issue than us oldsters -- they view it as more like a monetary exchange: they understand and care about privacy, but they're willing to pay for a service by giving some of it up if they think the value they're receiving justifies it.
That's not the same as not caring. Just the opposite, it's caring enough to make conscious decisions about how to valuate it.
Nor do the many many kids on YouTube or Twitch.
Not a single one of the children I just mentioned understand, care about, or are willing to pay to keep their privacy, in any form.
And they're right. It doesn't matter, because nothing happens when you lose your privacy on the Internet, not even remotely approaching the risks we take and accept in our daily lives (driving, swimming, walking outside, etc.).