Social media (incl. FB) responsibility for what appear on their platform is very current. Misleading adverts for metal working kit is a minor and a very small part of the problem - porn, racism, rumour mongering, fake news etc etc is a far greater societal threat.
FB and similar know that if they have to take responsibility for that which appears it will be hugely costly and threaten revenues which are in large part driven by site usage. Reduce visitors and revenue goes down.
It is a complex legal debate I don't remotely understand - although personally I favour some material liability on the part of social media for content. However separating (for instance) legitimate political views from the unacceptable, or art from (milder) pornography is often a matter of judgement not fact.