Facebook aside you really see this across the board on almost any platform, that once the product reaches it's 1.0 stage, (where it is good, does what the users want it to do, and has realised its vision) it begins a process of gradual decay, as the focus of the product managers (now panicking to find some statistics to improve to show their bosses) shifts from "building functionality" to "increasing engagement/reten…
I'm glad we didn't declare the phone "done" at the Razor flip phone or that we didn't declare personal websites "done" with Yahoo Geocities. Progress has to happen. Sometimes you get it right, sometimes you get it wrong, but you have to try.
Facebook trying to turn Instagram into Tiktok ruins the ability to use Instagram as Instagram.
It's more like Mr. Coffee saw that smoothies took off in popularity and decided to start making coffee machines that are also blenders, but now suck as coffee machines.