He definitely has horrible product instincts, but he also bought insta and whatsapp at what were, back then, eye-watering prices, and these were clearly massive successes in terms of killing off threats to the mothership. Everything since then, though…
He’s an incredible operator and has managed to acquire and grow an astounding number of successful businesses under the Meta banner. That is not trivial.
We were very confident by ca. 2008 that Facebook would still be around in 2025. It's no mystery, it's the network effects. They had started with a prestige demographic (Harvard), and secured a demographic you could trust to not move on to the next big thing in a hurry, yet which most people want contact with (your parents).
All he's been responsible for is making it worse