Meta will keep oscillating. Its an example of too much cash chasing too few ideas. Tomorrow Zuck will say solving quantum field equations are the future, and since they wont find more than 8 people on the planet with the skills, execs will start running around furiously producing all kinds of fake activty to validate the "vision". When the system turns into a money printer the 3 inch chimp brain looses all grounding. Humility is the first trait that evaporates. The Attention Economy has zero mechanisms of humility generation. Its a runaway halucination engine. And Meta will keep oscillating till that is fixed.
Not necessarily a bad thing, I'd rather see attempts at innovation or moonshot ideas than sitting on the cash. These are calculated business moves targeting ideas that have a reasonably high chance of success. Isn't Google's graveyard an example of too much cash chasing too few ideas?
I'd rather they do something like google X where they can build a company around the idea, rather than getting a bunch of random PHP/React devs told to build VR, then flopping at it.
They should just return cash to shareholders if they can't think of anything better to do, but I guess Zuck has too many shares and no one can force him to do this and so we have to watch him light money on fire as he chases some gimmick that will take Meta to the next level.
The incentives at Meta are all wrong, so they will forever spin their wheels trying to latch onto something the next big thing while they continue to simply be a social media company.