My god, if you get it, you get it. They are going all in on metaverse / have decided that the future of oculus is the primary long term bet, not facebook itself. And they have the money to make it so. This is incredibly scary, and probably a good investment.
I don't discount that it could be the next big thing, because wtf do I know, but it feels very niche to me, and certainly not something that can get the engagement like a phone can. And in terms of money, Facebook itself is a printing press, I wonder what the business model is for this? Selling games or experiences? Billboards in an AR world?