They didn't collaborate with CA, they just had gaping security holes in their API that allowed CA (or anyone) to easily grab tons of data on people's friends. FB patched those holes up right away when they found out, not because they were concerned with what CA was doing, but because CA did all this without paying them for targeted advertising.
Yes, meta sucks. But Cambrige Analytica is a bogeyman invented to scare us into thinking that digital marketing acctually works. It doesn't. Even if you have no morals.
Given how hard so many democracies have turned towards hard right politics after Cambridge Analytica was founded, it would seem they figured out how to move the broader popular sentiment.
And that's exactly the impression they were hopping to acchive. You're pissed and outraged... But in the back of your head there is "marketing can control mind and souls" thought. That's exactly why the AI-guys are the first one who warn us about dengers of sentient killig robots. They suggest the capabilties that AI is nowhere close to have.
And how it helped get the russian lovin pedo elected in 2016: https://www.nbcnews.com/news/us-news/cambridge-analytica-harvested-data-millions-unsuspecting-facebook-users-n857591