This sounds like a variation of “do not track”, a concept invented by ad networks like Google and Facebook to give the pretense of caring about privacy.
DNT was then either ignored, or directly used as a tracking vector.
Even the advertising networks that did “respect it” stopped respecting it the moment it became popular (iirc multiple networks said they would not respect it if it was not off by default, or if users were asked ahead of time rather than it being a functionally hidden setting)
Global Privacy Control is the new DNT. Unlike DNT, it is legally enforceable, at least in California.
DNT was introduced by Firefox, and Internet Explorer was the first browser from a major tech company that added support for it, so no, it wasn't "invented by Google and Facebook".
The only real problem with DNT is that there's no law requiring it to be respected. A solution to that problem is to pass such laws (which is exactly what this story is about!).