It’s certainly not a flop. It’s almost as big as X globally.
There’s a tremendous locality bias around Meta’s products. Social media use is very localized by geography and age. So if all your friends stopped using Facebook ten years ago, you assume that’s probably true everywhere, while in fact they’ve added several billion users on FB since then.
I've seen several interesting posts from Bluesky referenced elsewhere already, but literally nothing from Threads despite it having had more users for longer.
(She's 20 years old, her father is the richest man in the world, and he regularly does interviews saying his child is literally dead to him. Enough drama for an Orson Welles script and a second-tier social media service.)
It retains important bubbles like Silicon Valley VCs and media people, but globally it’s just not significant with its single-digit market share.
If it's got that level of usage, and not just people clicking on the occasional recommendation from Facebook/Instagram, it's remarkably insular.
At least that's what Meta tells advertisers and shareholders.
Zuck has a long history of fudging the numbers.