Well the thing is there was never any value in their project to begin with.
They had no existing synergies in the financial space, it was clear that regulators would seek to shut them down as soon as they started, etc.
I doubt that this is going to be their last crack at blockchain tech though. It is clear that there is a lot of money flowing into this space, and Meta has never been late to these parties.
No value? Not sure if I am going to agree with that because we are talking about facebook here and facebook was a successful company. With the money they have and the brains behind them, I think they can be able to make a very promising project that everyone will like but if someone thinks the project they did was not enough, maybe because they do not give their best because they are too humble to give chance to others and just because they do not have an experience in the financial field like other projects have, does that mean they cant be good at it?
But, I think not all in cryptos have existing experience but there are also brand new that totally start from scratch and still manage to get successful.