> Zuckerberg could’ve made a YouTube competitor or a Netflix competitor given that he already has a platform for video sharing and an ads infrastructure

Facebook has no content production experience though, and when they do dip their toes into that market its via AI slop (like their official AI accounts on instagram). I think this is because they don't value the human element of art at all.

They would be entirely reliant other content providers, which is a rough place to be in when you have to deal with actual studios and not just independent creators. Independent creators are easier for Facebook to exploit since they are usually small operations and dependent on facebook/instagram for market reach.