Many of the products, while they do provide value, aren't providing services that are attractive enough in their own right, to generate multi-billion dollar companies. Facebook is pretty much a niche product, Instagram provides maybe a little entertainment, but with out the addiction part, it's not really worth as much as Meta shareholders would like.

Same with search, or AI, clearly there's value, but it's hard to become a $1T company, while still be ethical. We need the world to be okay with much much small, less valuable tech companies.