Because the auction took everything else. Meta Advantage+, TikTok Smart+ and Google PMax now own targeting, bidding and placement — identically for every advertiser, so there's no edge left there. The one variable still under your control is the creative: what the ad says, who's in it, how it hooks in the first three seconds. Meta's own data attributes roughly 56% of auction outcomes to creative quality — more than bid, audience and placement combined. The algorithm reads your creative to decide who sees it, so creative IS the targeting. Putting more winning concepts into the auction, faster, is the single highest-leverage move a high-spend brand can make.