facebook recently announced a new feature called the relevance score.
the higher number of likes and shares => better score
more hides and report ad => lower score
read more here:
http://thenextweb.com/insider/2015/0...r-advertisers/
Looks cool but I think its a bit early for it to change much, besides another gimmick for people that don't have performance of their ads in mind to enjoy (the same way facebook makes a lot of add suggestions for people marketing for a brand or whatever).
Long term though, once user feedback on ads is fully implemented on it, it might make cloaked ads/misleading ads start dissapearing or be unprofitable (due to higher and higher cost and less visibility as people X it or come back pissed off at a fake diet/muscle/penis pill add)