Im not sure if this is intended for some sort distraction but Facebook are building 'metaverse' so some rebranding might make sense. I mean the word 'facebook' doesnt really fit the metaverse image though
The metaverse that is not yet existing and that will take time before it will exist. I see this as a reason Facebook is rebranding its name earlier:
The timing of this makes it look like it is a rebranding exercise - to take attention away from the trove of negative stories hanging around the company right now. Critics People believe Facebook has done this because the brand has become toxic. They may well not buy into the rebrand and continue to call the company Facebook.
The metaverse doesn't yet exist. Zuckerberg was keen to stress it was a long-term product. So having a name totally unrelated to your main offering is perhaps a little…strange. Almost all of Facebook's revenue comes from advertising from Facebook and Instagram.