I can't see it being healthy for us in the long term.

Meta will only make decisions to increase profits. They have demonstrated this time and again be taking advantage of elections, the pandemic, and poor leadership to spread hate and misunderstood - this drives user engagement.

Meta cannot stand to have this content where they cannot get to it easily. They feel they they must have this content in order to show growth.

Their only obligation is to provide growth to their shareholders. This means that they do not need to play fair. They will want to control the platform. As femboy link pointed out, this did not go well for XMPP working with Google and Microsoft did not play well with Open Office.

The end game for this offer is that there is only a Metaverse where Meta-approved conversations happen. I would sooner create an OSS Facebook alternative where you federate with those you wish than allow Meta into our domain.