When Facebook announced Metaverse during the news about the whistleblower, I remembered this phrase; "the best defense is a good offence." A common strategy in business, politics and sports. Donald Trump used that strategy repeatedly. Sometimes called "doubling down."
My guess is, behind the scenes, Facebook may be working, some, to fix a few of those algorithm issues, but once someone goes on the defensive, publicly, like the Democratic Party often does, it's easier to get pushed around by the competition.
It's the game, it's business and its politics, unfortunately.
I think one of the big problems that drive algorithm design is the push to be on top.
Often a business is more responsible if it finds it's niche. When it knows it's limits, finds it's niche and serves that well.
There is pressure to go beyond. Pressure from having to pay the bills or just the ego of being top dog.
I do think that Facebook does some things very well. There can be a lot of good communication here that isn't as easy to find elsewhere.
As with pretty much everything in society, oil companies or whatever, it's a mixed bag.