The Law doesn’t care if any one company’s business model is viable and, Facebook being an American company which avoids taxes like crazy, EU politicians don’t care enough about them specifically to change said Law.
So ultimatelly and once they exhausted all legal recourse, Facebook have only two options: “comply” or “leave” (i.e. stop operating in the EU).
Somehow I suspect that selling non-personalized adverts will still make the EU market appealing enough for Facebook to operate in an that would allow them to comply with the local laws.
To me this looks like a play by Facebook to keep their higher revenue model going as long as possibly by breaking the rules and then relying on the slowness of regulators to keep going and any two-strikes policies to avoid big fines.