Given that Facebook bafflingly renamed their entire company “Meta”, I wouldn’t put a Digg-like move past them.

I think the name change pretty clearly indicates that Facebook, er, Meta agrees with the OP.

The Facebook property itself has pretty clearly already reached the high water mark. So they change the parent company name to make the distinction that Meta is not just Facebook, which they're hoping will insulate themselves from one of their products fading away as they bring up new separate social products that solve the generational silo requirement of the market.

That rename certainly doesn't inspire much confidence.