The funding model of Facebook was badly aligned with the long-term interests of the users because they were not the customers. Call me naive, but I am much more optimistic that being paid directly by the end user, in both the form of monthly subscriptions and pay as you go API charges, will result in the end product being much better aligned with the interests of said users and result in much more value creation for them.
What makes you think that? The frog will be boiled just enough to maintain engagement without being too obvious. In fact their interests would be to ensure the user forms a long-term bond to create stickiness and introduce friction in switching to other platforms.