The actual truth is the people paying for ads are rubes.
When it came out that Facebook’s “pivot to video” numbers were all fake nobody batted an eye. Marketing departments have failed to apply any statistical rigour for decades and all fall prey to the the idea that if you target ads well enough they work.
If you even have a marketing department they exist to spend money, so as long as they have charts and graphs they’ll ignore the users and keep asking for budget.