Speaking as someone who has spent $30,000 on Facebook ads in the last several months: Facebook advertising is fantastically targeted as well.

Google ads work when there is so-called "purchase intent": I know I want a new waffle maker, so I search for it.

Facebook ads work when there is demographic correlation: I just got engaged, and I might not know that I now need a waffle maker, but a Facebook ad can target me and tell me that I should be adding a waffle maker to my wedding registry.

Different kids of targeting, both extremely powerful.