Meta entering this space is not something to celebrate. They don’t care in the slightest about fair play or open standards. They will use this as an opportunity to monopolise the fediverse (they have a strong track record for this) and push out open platforms in favour of their proprietary, data harvesting shit. Trusting Meta will be catastrophic for the fediverse.

This blog post explains in a bit more detail how this is a problem: https://ploum.net/2023-06-23-how-to-kill-decentralised-networks.html