That's true, but then, I'm not saying that the Quest is an offline-only device without cloud features. I'm saying that Meta didn't invest $63 billion just to create a "suction pipe for hoovering up that data". They have much bigger ambitions than that.
If they have other ambitions, those ambitions haven't materialised yet. Selling decent hardware at a loss and profiting from hoovering up user data is all Facebook has accomplished with the Quest so far from what I can see.