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Actually I would like see a post-mortem that showed where all the money actually went; they somehow spent ~85x of what RSI has raised for Star Citizen, and what they had to show for it was worse than some student projects I've seen.

Were they just piling up cash in the parking lot to set it on fire?

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At least part of the funding went to research on hard science related to VR, such as tracking, lenses, CV, 3D mapping etc. And it paid off, IMO Meta has the best hardware and software foundation for delivering VR, and projects like Hyperscape (off-the-shelf, high-fidelity 3D mapping) are stunning.

Whether it was worth it is another question, but I would not be surprised is recycled to power a futuristic AI interface or something similar at some point.

The sad part about this fact is that the tech is mated to a completely rotten ecosystem. If it were sold off I'd be excited to try it.

Even within the XR industry, we had no clue where all that money went. During the metaverse debacle, the entire industry stagnated. Once metaverse failed, XR adjacent shops started to fail. There was no hardware or technique innovation shared with the rest of the industry, and at the time the technology was pretty well settled.

Since then we lost all the medium players and it's basically just Facebook, Valve, and Apple.

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