I doubt they are ditching it, and instead just abstracting the ownership chain one degree with a holding company and installing a straw man to blame. Watch him copy Larry and Sergei's moves, he may one day realize he held on too long and became something hard to un-become: infamous.
I still think they should just take a leap of faith and become radically transparent.
In a way it does; because if it is widely perceived as phony and yet another distracting ploy, then it much less chance of actually changing the narrative around the reputation of "the company formerly known as FaceBook". In fact, further "sleight of hand" manoeuvres would fortify the dodgy reputation.
Tesla's self-driving product is a great example of this. They got consumers to buy into the vision of self-driving cars way before it was actually ready. This allowed them to sell a lot more cars and pre-orders as well as have a narrative for investors to pump their stock. If they get FSD to work, it will be great. But, even if it never is a successful product, they've benefitted tremendously from the narrative itself and have been able to turn it into sales and cheap capital to invest in the business.
Maybe. But on the other hand, Tesla was starting out with a _lot_ more user goodwill than FaceBook.
Tesla isn't perfect, they have (IMHO) a good basic product, but with some build quality issues, labour issues, over-promising self-driving issues etc, and yet ... these issues have not shifted the narrative from basically favourable. Part of me still wants one, even though I know it's not going to drive itself. Maybe narratives are sticky?
So, FaceBook is going into this with a massively negative narrative. Shifting it will be hard. We're all really cynical about FaceBook already.
At this point, they can't win the war on changing people's minds on these issues. So, instead, they need a new narrative to build around. They're ditching the Facebook name and branding, and focusing on a new vision around the Metaverse.
It doesn't matter if this is real or not, or if VR/AR doesn't become the next computing paradigm. The narrative itself is a new, interesting thread to build their brand around.