That’s the premise of an article by Edward Ongwesso Jr.

What seemed impossible just a year or two ago—that Facebook will become just another tech company, more or less—now seems like a very real possibility. […] In a Q1 earnings call, Facebook warned that Apple’s 2021 privacy changes to its iOS operating system—which makes it harder for third parties like Facebook to harvest data to target users—would be “a pretty significant headwind for our business” to the tune of $10 billion in advertiser revenue this year. […] over the past four quarters, Facebook’s ad revenue has faltered: $33.67 billion (Q4 ‘21), $26.998 billion (Q1 ‘22), $28.152 billion (Q2 ‘22), and $27.2 billion (Q3 ‘22), with first-ever year-over-year declines reported these last two quarters.

Facebook is still a gigantic force that has spread an endless amount of disinformation and misinformation worldwide, a hugely important platform, and a monopolistic company; this cannot be waved away simply because the company is grossly incompetent. […] There is a possible near future, if we’re not already there, where Meta is just another company rather than a world-shaping monolith, having been outfoxed and outclassed by more competent monopolies and wrecked by the hubris of its chief executive.