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I read "it's dying" by people on Discord and Reddit all the time, but the numbers prove otherwise. It's been going up this entire time and sitting over 3 billion MONTHLY ACTIVE USERS!
I feel like the bubble around people on other platforms saying "who uses Facebook anymore lol" is kind of wild given the numbers. Keep in mind these are active users not just abandoned accounts.
A lot of users are also from poorer countries that lack the means to create their own web infrastructure. Using Facebook to run your business account is easier, cheaper, and more reliable than most alternatives there. Phone carriers and ISP often also have "free"-data for certain social media platforms. You get 1GB+1GB for Facebook/IG/YT/Some Game. So you are stuck in this loop where everything reinforces itself to use Facebook.
This! I'm from one of those developing countries and using Facebook is a necessity at this point since everything and everyone is in that platform.