The Guardian report linked to in the article says "Meta has spent ... more than $100bn on (Metaverse) research and development and product development"
By comparison, the same article quotes Sony as $5 billion a year and Apple $21 billion a year as their entire R&D spend across all their departments.
No wonder the share price collapsed, Meta spent more on R&D for the Metaverse than Sony spends on its entire product range in 20 years.