> Meta has to know that millenials and younger are giving up on their platforms, they have endless internal data showing it, right?

If that were true, they would be going somewhere and that somewhere would be visible. The last "new" thing that got any traction was TikTok and that is almost 10 years old at this point.

For a while, the Fediverse stuff (specifically Bluesky) seemed to be getting some traction, but apparently the Fediverse wasn't ready for the influx and people have started leaching back.

The social media sites have things pretty well carved up between them. If you want competition that doesn't suck as bad, you have to break them up.