There are literally hundreds of "startups" doing that for social media advertising. Hundreds for search. Hundreds for display, and not just regular display, but RTB(sarcasm)! There are tons of startups doing it for native ads. And don't forget video, seo & content marketing among others.
Add on to that, the partner/provider lists of "startups" that sit on top of one or many of those tools.
And let's not forget about the 1000s of agencies out there to roll it all up.
There are tons of snake oil salesman, and many good tools and people in that list. But as with pretty much any ecosystem, it's 80% crap, 10% meh, 10% bam.
And there is no one right answer. Just like no absolute answer to Python vs Ruby.
So whenever I see articles like, "facebook ads bad! look what they're doing!"
Change it to, "facebook ads bad! Look at all the things I'm doing wrong, but don't even know enough to know I'm doing wrong!"