Excellent analysis and I agree with most of what you've said. Facebook as a platform is dead, has long been but Facebook as a company could live on. Acquiring Instagram and Whatsapp was the smartest move they made. They added Instagram stories to rival snapchat but snapchat continues to be relevant. They added reels now and I feel Instagram which got famous for it's simplicity will slowly become overcluttered like Facebook and eventually die.

Acquiring innovators is what they have been doing for quite some time now and as you said this can't go on for too long.

The only reason most use facebook nowadays is "Login using Facebook".

Lovely read! Thanks for sharing. If it indeed dies, it will be good riddance and will open up a lot of oppurtunities.