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I read "it's dying" by people on Discord and Reddit all the time, but the numbers prove otherwise. It's been going up this entire time and sitting over 3 billion MONTHLY ACTIVE USERS!
I feel like the bubble around people on other platforms saying "who uses Facebook anymore lol" is kind of wild given the numbers. Keep in mind these are active users not just abandoned accounts.
This is location specific. In the mainstream US FB use is down among youth and because of that it is has gone down among older adults. FB marketplace is still pretty popular and so is Instagram. So even in the US Meta is doing okay.
Internationally, specifically Latin America, Europe and SE Asia, Facebook, WhatsApp, Marketplace are effectively the most popular way to communicate on anything.
WhatsApp is basically the phone, Marketplace is in some places the only way to find real estate and just about anything else. And Facebook is used by every business.
Meta internationally is raking in Ad money in the billions and billions. People have been convinced that their privacy is worth less than the convenience and utility. Because for them there is no better alternative. In addition in some of these cultures the idea of privacy is a foreign concept.