I think Meta is just saying, "Look you already know the score. You're the product. 🙄 We may not need all of this data right now but at some point in the future, with new product features, we may require this, agree to it NOW, and save us all time." 🥴 I see no problem with this.
Their execution will make a big difference, for example if they have something similar to Community Notes to counteract misinformation. Also, why do they even need to collect Health & Fitness data among so many other things?!