Muse replaces the metaverse as Meta's strategic center
An analysis notes Reality Labs has lost about $88B since 2020, with Q2 2026 losing $4.62B on $431M revenue, and CFO Susan Li saying VR investment will decline significantly as spending shifts to wearables. At Connect 2026, Muse — with its own email address and agents across surfaces — headlined instead of the metaverse, signaling where Meta's long-term money is going.