The whole Meta thing is just a 1-2 year distraction to keep the stock price up while Facebook figures out its real existential problems. Maybe it sells some more VR units great, but it keeps Facebook at the forefront of "hard technical innovation" "new age social media" and has other tech giants rushing to "keep up". Solid distraction, 7/10.
This feels to me like Elon Musk maintaining his 'genius' profile by doing a brain implant presentation 'thing' that'll go nowhere but keeps people talking and believing.
The American way of flashy presentations over substance does tend to catch up however, so we will see.
In the scheme of things, Facebook's enemy is facebook itself. They are by far the biggest platform with real identities and all the tools needed to make it a pleasant and compelling experience. They just don't know how to make it go 'moar money' every quarter and thus far, they've steadily ruined their own product to appease the stock market.
At some point, you just have to say 'we're not growing anymore, this product is great, everyone who wanted to use it is already using it and we're done trying to squeeze our customers'. Now whether or not the ego of the folks running these sorts of places can handle it is another matter.