It is Facebook. People who are in that ecosystem will use it, whereas those of us who aren't will not go anywhere near it.
I joined Instagram as soon as it was available on Android (2012 I think), and loved it. By that point, Facebook was starting to get a little icky, and I really liked that it was just photos, all positive stuff, and always reverse-chronological.
Then Zuck got his dirty hands on Instagram, and it of course started getting icky in many of the same ways Instagram did. I quit Facebook in 2018, and Instagram not long after, and haven't really looked back. I still would occasionally sign into my FB account for event invitations, but seems like most of my friend group doesn't use FB for that anymore, so that's mostly gone.
Everything Meta touches turns into garbage. It's all about emotional manipulation and getting people worked up about something or other. Your take on Meta/FB from the beginning turned out to be prescient, I think.
I got bad vibes from Facebook from the very start, and steered clear.
I only use it for businesses purposes. That's it.
I won't be getting any news from this watered down version of Twitter.