As much as I would love to believe that there is a benevolent future where Meta only owns part of the decentralized Metaverse, I'm not sure I believe that now. Facebook is a profit making organization that has worked hard to be _the_ place to go to online, and it fights hard to keep that status. Facebook bought Instagram and WhatsApp. It's working hard to compete with TikTok. A Facebook account is required to use an Oculus Quest 2. I don't see it quietly accepting a part of the decentralized pie. I see the company working hard to both lead and define the space, because that's where it sees the growth and the money.
Maybe the Metaverse isn't bullshit, but what Facebook is trying to create probably is.