It's not "extortion" - Facebook is under no obligation to provide businesses with 100% reach (or indeed any reach) for free. Facebook is not a non-profit or some government service - they are a business. And just like you want to make money for your business, they want to make money for theirs. [And if they don't make money they go out of business and that certainly won't increase your reach]
IMO Facebook should have never offered any free reach for businesses - if the only option was pay for reach nobody would be complaining. Because there has always been some amount of free reach there's an odd sense of entitlement.
IMO Facebook should have never offered any free reach for businesses
It has always confused me that Facebook has done so little to monetize businesses, many of whom now list their Facebook pages in major advertising campaigns rather than their own website. Traditionally the service that Facebook provides to businesses was a pretty high value one, and it wasn't that the businesses brought users -- the businesses went to Facebook because the users were already there.
IMO Facebook should have never offered any free reach for businesses - if the only option was pay for reach nobody would be complaining. Because there has always been some amount of free reach there's an odd sense of entitlement.