Don't get me wrong- I'm extremely upset about it due to facebook's clearly evil history - I don't know how anyone could deny this, given user exploitation and tracking[0] - and the fact that Oculus Rim values the combined ideas of virtual reality and augmented reality (which I don't think should be combined) as 1/10th the value of Whatsapp is beyond me.
However, is souped-up video conferencing really such a terrible idea? I wouldn't go to a 10-year high school reunion on Oculus, but I definitely would reunite with my college buddies every few weeks if we had something less lame than Skype or Google Hangouts to do it on.
[0] http://www.ftc.gov/news-events/press-releases/2011/11/facebo...