No. The more accurate statement has nothing to do with the advertising model:
You cannot fix Facebook without first imbuing its users with empathy, reflection, critical thinking, and a desire to seek information over affirmation.

The advertising model works because the vast majority of Facebook users are unthinking automatons that auto-like and auto-forward content designed to take advantage their lack of critical thinking skills and provoke maximum “shareable outrage”.

If the users were more discerning in their daily web-surfing, then the clickbait bullshit wouldn’t continue to bubble up. However, they are incapable of/unwilling to engage in any critical thought beyond that which reaffirms their pre-programmed partisan desires, regardless of it’s relationship to reality.