Real shame regarding what happened with XMPP. There's no business case for a corporate entity to support a free, open communications protocol that has no path or potential to monetise.
They'll just introduce propietary features that don't support federation to move users over into their walled garden, similar to Apple's approach with iMessage.
To me the decision is clear - Meta (and other massive corporate entities reliant on monetising their users) should not be embraced by the fediverse. Project 92 in particular looks like an attempt to siphon off Mastodon market share and potential users... really doubt anything good will come out of working with them