What Apple doesn't seem to care about is an entire industry built on the old way of doing things, where every app just tracked everything and only a few people ever seemed to think about it. Facebook is a great example here. Facebook has an ad platform as big as Google's and it works the same way — collect personal data and serve ads for things you might find interesting. Folks buying ad space love targeted advertising because they know more interested people will end up clicking on one. This makes a company that can place targeted ads pretty valuable.
Facebook is in meltdown mode over Apple's new changes because it stands to lose a significant chunk of its value once people realize they can toggle a setting and opt-out of ad tracking. Google's not immune here and has already advised customers using its ad engine to brace themselves for a significant impact once iOS 14's privacy updates go into effect.