The only boat that they really seem to have missed is the community that tiktok serves. But it seems to offer the lowest standard of viral memes and stupid joke videos.. I'm not on tiktok but every time someone sends me a video I really hate, it has their logo on it. I've literally never seen anything that came across my WhatsApp with that logo that was worth watching. So I'm definitely not tempted to try. For some reason it really rubs me the wrong way. It seems to embody everything I hated about what Facebook became. If I were leading Facebook I'd not want to double down on that direction either.
For what it's worth, when I was on Facebook I also hated people (re)sharing memes and videos. I used it to see what my friends were up to in their lives but the amount of crap became too high. Too many people sharing memes, 'funny' videos, petitions or trying to sell/promote stuff. I think it's the algorithms egging them on. Trying to get as many likes and followers as they can. Eventually people got disillusioned with that rat race on Facebook, and I think the same will happen to the tiktok crowd.
But maybe social media is just not for me. The more algorithms involved, the worse it seems to get at showing me what I want to see. I have very little patience for wading through a timeline of stuff I'm not interested in trying to find the one bit of worthwhile information. WhatsApp has pretty much taken over that function for me. Because it doesn't do any prioritising or inserting ads or content it thinks I will like, it just passes messages like it should do. Just like Facebook used to do before it went down the toilet. Most of my real friends I now have in WhatsApp groups.
But of course that's also owned by Facebook.. So yes I think Facebook the company (now meta) will be fine. Facebook the service not. I think the metaverse is a risky bet but potentially very rewarding.