VR/AR is gonna pay off eventually. It’s highly unlikely Meta will be the one leading that revolution. For one thing, people would simply not trust a Meta based VR platform, thanks primarily to the Zuck. A similar competing offering from Apple, Google, or Microsoft would crush a Meta VR/AR platform very quickly IMO, due to people’s lack of trust in Meta.

Additionally, it’s not clear if any gains Meta would see would be worth the cost. There’s the headline number of tens of billions of dollars spent, but more than the absolute amount of money, the opportunity cost of those dollars not being spent on other more promising technologies, like ML/AI, which Facebook actually was THE leader in 5-10 years ago, is the big problem, and is directly a result of poor leadership.