They aren’t attacking the business model, they are specifically attacking Facebook because it is distorting the market and destroying competition.
This isn’t exclusive to Facebook.
But this rule is all but exclusive to companies that are so big they are operating in a non-competitive market as defined by new EU regulations. Companies can still do it, Facebook and five others can’t. If your platform gets so big that people can’t find alternatives easily, you get on the list, and you can’t do that any more either.
Offering an ad free experience for a subscription fee is an extremely common practice. Do people really expect to be able to use an entertainment platform for free?
There is no requirement on Facebook to offer a free service. They can ask for as much money they want or not ask for money. They just can’t make data harvesting mandatory for any customers. This is not a judgment of the business model, this is just acknowledging that some platforms have become so big that you can’t live your life without them, so their interest to free commerce and self-determination is secondary to the basic right to privacy that all EU citizens have.