The problem is that Facebook appealed to basically everyone. You had young and old alike from various social circles all using the platform.
If Metaverse only appeals to a small group of people, it’s a failure. Because it’s supposed to push Facebook forward, and it’s hard for a company to limit its own market. It could be done successfully by spinning the company off, but for whatever reason they just do not want to do that.
And I think fundamentally VR and virtual worlds is just not going to appeal to a mass market of people. There are so many people who are just not interested in spending time in ‘Techno-world’. These people liked Facebook because (a) they talked to their real friends and (b) it was unobtrusive enough to not bother them. A lot of people quit Facebook as soon as they felt it was encroaching their lives too much.