What’s more, developers tell us that Meta’s motivation behind the API’s shutdown is unclear. On the one hand, it could be that Facebook Groups don’t generate ad revenue and the shutdown of the API will leave developers without a workaround. But Meta hasn’t clarified if that’s the case.
No, that's definitely it, you got it.
The promises of web 2.0 simply can't survive in the capital-poisioned wasteland the Internet has become.