Facebook has been around the corner for much longer than this round of fund raising.
More like their 90% use case was subsumed by the new steamvr lobbies...
I disagree. SteamVR home only lets you invite a few friends over to your personal space while AltspaceVR was more about all kinds of events in public spaces. Even more importantly it's only available on the PC while Altspace was one of the few options also available on mobile VR which has a significantly larger userbase than PC-based VR right now.
Facebook's purchase of Oculus helped AlstspaceVR by adding credibility and awareness to VR.