The problem is that it's only an investor's view. It's quite dismissive of Facebook's very real political problems, and doesn't acknowledge that for many people - especially, but not exclusively younger users - Facebook is a terminal combination of boring, evil, and cringe.
But more than that, Facebook isn't in a unique position to own the metaverse. The rest of MANGA will be converging on similar space. If there's any possibility at all of open hardware - or at least of an open standard - it's likely the real competition will come from an unexpected direction.
Social and AR/VR are fundamentally different spaces and Zuckerberg's idea of what's supposed to happen in those spaces is fundamentally weird and very possibly ridiculous.
Between the absence of consumer-friendly hardware - nothing is going to happen until the tech fits into very wearable low-effort glasses - and Facebook's eccentric history, I would expect Meta to fail and the metaverse to happen elsewhere, leaving FB to carry on as a kind of AOL for an ever-decreasing userbase until it's sold off for far too much money to some other large corporation which should know better.