He did innovate and more importantly, executed well. Facebook groups, marketplace, buying Oculus, all great plays. They have something like 1.9B daily users. At this point there isn't much growth left and user decline is expected. Facebook don't need to be rescued. Still very healthy.

Now regarding VR. I'm really happy he is going all in on it. He might fail but it's a bold move. Too early to tell but I'm not betting against him.