Facebook is still targeting children e.g. by age/city and still collecting their behavioural data. The only thing they probably stopped is to connect both.
I worked with some civil society groups to research on Facebooks statement on stopping targeted advertising.
Now a global coalition of 46 civil right groups is accusing Facebook of misleading the public.
You can read their full report here:
The social network of the future: No ads, no corporate surveillance, ethical design, and decentralization! Own your data with Mastodon!