It's better to have to trust somewhat verifiable promises about the Facebook app than to have to trust unverifiable promises about Facebook-the-entire-organization. That's the advantage that E2E provides.
https://www.archive.ece.cmu.edu/~ganger/712.fall02/papers/p7...
They seem to be VR meeting spaces: https://blog.mozvr.com/introducing-hubs-a-new-way-to-get-tog...
The model you describe seems like a good one, similar to what most Linux distributions do. The distro maintainers are trusted and they compile packages and distribute the binaries, but people can run the package generation scripts themselves to get their own package straight from the source. Reproducible builds allow users to confirm that the maintainers aren't doing anything sketchy - that probably isn't a possibility here, but this model is still far better than what FB/WhatsApp and even Signal do.
Just because the protocol is well-formed doesn’t mean the totality of the implementation is trustworthy.
#ShowUsTheCode