People don't use Facebook like before,I don't even know when I am active on that platform,I see why they are trying all things to port into meta but this is not the best time for anything metaverse,like you said ,is just hype base no product to support it right now ,this became disadvantage ,I think that Is the reason why Facebook stock keep dumping
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Facebook is a dumpster fire, so perhaps it deserves to dump :)