No, you have never been able to target by race. NY times is referring to algorithmic targeting that incidentally correlated to race, which FB cleaned up in 2019.
There is no difference between "filter out black people" and "filter out X, (X correlates 99% with black people)". And I mean that legally, morally and practically.
But, you seem to be shifting the goalposts pretty significantly. So, do you agree with the base point that targeted ads can produce pretty bad results?