Did you read the whole thing? he is clearly talking about having lost focus which is directly in agreement with your take on the Metaverse.

If that was the case then he wouldn't have continued doubling and tripling down on these same product decisions for many more years.

Ask anyone at Meta and they will readily agree that Boz is among the most incompetent and unserious leaders in tech. His only qualification is being Zuck's friend, and that shields him from all criticism. At a more "focused" company he would have been fired a decade ago. As it stands he lost the shareholders $150B+ (and counting), dipped from the metaverse org, and got rewarded with a new role overseeing the shiny new thing - AI.