Should we, as the crypto community, boycott their effort?
Just ignore.
I wouldn't be surprised if Facebook tried to use their massive wealth and lobbying arm to try and push for laws that favored their crypto and somehow harmed others.
Since they officially announced the Libra coin, some major countries have already expressed their concern about the new coin. It appears that they have to use their wealth and influence to sway some people in the government and banks first.