Admittedly I still do like Facebook for certain things that it does well.
One problem is that there isn't much room at the top of the world; so to speak. When a company finds a niche and serves it well, that's one thing, but staying on top of a world market can be difficult. There is a phrase that goes, "the only way out from the top is down."
Like a pyramid the top is usually small. How does one remain nearly at market saturation on a limited planet?
One way is to try and always reach the younger demographic. I've heard it said that Facebook's audience is skewing older.
That's a good niche, but being at the top tends to require appeal to younger generations. One factor is that investing in youth creates loyalty and a revenue stream that can last the long life of the participant.
Investing in Meta virtual reality is a gamble. I would guess a strategy to bring in new generations.
Some corporations try and stay on top as much as they can while others modestly settle for what they do well without trying to always be at the very top.
Interesting to see how this all plays out.