In order to bypass the GDPR, Meta apparently plans to move to a "Pay for your Rights" approach
The Wall Street Journal reported that Meta plans to move to a "Pay for your Rights" model, where EU users will have to pay $ 168 a year (€ 160 a year) if they don't agree to give up their fundamental right to privacy on platforms such as Instagram and Facebook. History has shown that Meta's regulator, the Irish DPC, is likely to agree to any way that Meta can bypass the GDPR. However, the company may also be able to use six words from a recent Court of Justice (CJEU) ruling to support its approach.
This price is absurd, sure. Even if I trusted Meta, there's no way I'm paying that.
Having said that, they can charge whatever they want for the service. As company, their prices are up them.
I don't get why you (no OP specifically, but in general) put it as if you must pay or give up your rights. We can just not use Meta, as many of us already been doing.
GDPR should be there to protect and enforce informed consent. Not to remove people's ability to decide.
Why sholuld we regulate Meta's prices and not whatever other suscription service exists out there?
You can alleviate this by using a VPN, configure you browser to minimize fingerprinting and use NoScript which allows you to block their trackers on third party websites.
As absurd as the price may seem, that is actually about how much money they make from selling user data. Of course, given their track record I don't feel inclined to trust this "pinkey promise" of not selling the data in some form anyways.