Just look at Facebooks last quarterly results and guidance. When the company itself tells investors it's dying, it probably is.
https://investor.fb.com/investor-news/press-release-details/...
https://www.sec.gov/ix?doc=/Archives/edgar/data/1326801/0001...
They look really good to me actually
I have been told by acquaintances within the company that Facebook is considered a legacy product. IMO the corporate rebranding was canny. But I also have little/no faith that their internal bureaucracy will be able to pull off "the metaverse." Their only hope is pulling off more Instagram-style acquisitions.