This period is best understood as a brutal hangover from several years of market subsidized growth. We had cheap Ubers, cheap meal delivery, and free web services all paid for by a speculative bubble which is in the process of popping.

Meta can't just admit that they don't have a viable business model or their stocks will truly crash, so they have no choice but to cannibalize their remaining customers, like how phone and cable companies screw the remaining people with landline phone service and traditional cable packages.