Would’ve been better, IMHO; to pull an Alphabet and rename the company. This reminds me a little of the ‘Apple TV’ vs. ‘Apple TV’ article running around recently. If Facebook wants to differentiate their company from their service, a rename makes sense and also wouldn’t hurt their reputation when they create new products.
I was thinking similarly. Not that it needed to rename it but that it was an obvious option available. I think the choice to keep the main company as "Facebook" could be seen as hubris or overconfidence in the lasting trust in the name. There's no question the company itself has been under attack for privacy, impact on social behavior, its profit and negligence in running ads that undermined integrity of the 2016 US…
Kinda off-topic, but I feel like such corporate renamings should be illegal, or at least heavily scrutinized and subject to regulatory approval. Brands are socially useful to help track both positive and negative perceptions. Personal name changes often cannot be performed to "to avoid the consequences of a criminal conviction" [1], and I don't think the a company should be able to use them to avoid the reputational consequences of their actions.
[1] for instance: https://law.justia.com/codes/colorado/2017/title-13/change-o...