I've been running into the exact same wall: bump the budget by even 10% or swap in a fresh creative, and the whole thing nose-dives. Never recovers. The 'one campaign, one ad set, 20% budget increase' gospel? Utter rubbish in my experience.
Been logging cost-per-acquisition data across several accounts, and the pattern is clear: Facebook's algorithm doesn't handle sudden changes well - especially when you're feeding it a single oversized budget. So I'm testing an alternative: split that daily spend into multiple $50/day CBOs, each with 2-3 distinct creatives. Let each run until it either performs or doesn't, then kill and replace.
Someone in the thread mentioned internal competition between campaigns sharing the same audience. That's a valid worry. My workaround? Use completely different creative angles - one campaign for user-generated content, another for lifestyle shots, another for testimonials. Keeps the overlap minimal.
Also, CBO vs ABO? For these small-budget tests, CBO seems to let Meta's optimisation breathe without me over-engineering it. But I'd love to hear if anyone's scaled this approach past $500/day without everything cannibalising itself.