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Former Nintendo of America president, Reggie has poked fun at Facebook claiming he doesn't believe FB is an innovating company, and that they just buy studios like Oculas and Instagram 

Reggie Fils-Aimé Isn't a Believer in the 'Current Definition' of Facebook's Metaverse Vision - IGN

"Facebook itself is not an innovative company,” Fils-Aimé said. “They have either acquired interesting things like Oculus and Instagram, or they’ve been a fast follower of people’s ideas. I don’t think their current definition will be successful.”

He also says that more acquisitions after MS's purchase of Activision/Blizzard will continue. As well as stating the industry size and its thirst to grow.

"This is a global industry touching 3 billion people across the world; it’s a $200 billion business,” Fils-Aimé said. “The representation in the game and in leadership is not at all where it needs to be.”