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That does not seem legally binding to me at all. At least it‘s in no way plausible that using one service could grand them ownership of your private information or intellectual properties anywhere on the web. I mean I am no lawyer but this is just asking to get sued big time on Meta‘s part.
There is nothing plausible about our laws in the US. Our court precedents are often in open contempt of the Constitution and our laws in service of the rich.
The courts were captured via the federalist society, decades back and it’s getting worse. Part of the terms are that you can’t sue and instead can only use binding arbitration of their choosing, the supreme court officially blessed this, formerly illegal, maybe ten or so years back.
Edit: Wording for clarity