I do think that consumers would be better off with something like 100 MB of free data per month than an unlimited access to Facebook.
And I do think that Facebook wouldn't lose a lot compared to the current system. 98.41%[0] of the total social media traffic would still go to Facebook.
I'm not even sure that Serbia has "free basics". It's a fairly well developed country with a 110% mobile penetration rate (last I checked, probably higher now), 4G and the prices are dirt cheap and affordable for the vast majority of the population.