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I don't think it's going anywhere.

But then I read stuff about Oculus and how hard it is to create new accounts. If that is true the user base growing would be strange... Maybe the truth is somewhere in the middle...

It is true people have migrated away from facebook but it is also true they have migrated to instagram which is owned by facebook.

If these statistics [1] [2] are correct then there's a significant global population still using Facebook that exists outside of Western populations.

[1] https://www.statista.com/statistics/268136/top-15-countries-...

[2] https://www.statista.com/statistics/264810/number-of-monthly...