As an ex-employee, Facebook is many things, but ossified it is not. The internal impact/metric-oriented culture means that new bets are encouraged and rewarded, whereas product teams that are keeping it safe will eventually get disbanded.
FB’s predilection to reorg every six months, isn’t a sign of strength. It’s actually a sign of dysfunction. They’ve just been able to power through by being extraordinarily lucky in the social networking space. It’s tire spinning.
The company hasn’t released a noteworthy product in at least a decade.