Textbook vaporware of course, making an announcement that you're starting something with no actual plan or release date.
But will facebook federate?
A "text-only" app on Instagram seems weird. Isn't that all about the photos? Big social just can't stop pivoting their projects eh?
Chances are nothing at all comes of it but should they open activitypub inboxes and outboxes should we block them, or welcome them?
I try to think what will be best for all the poor people trapped inside the silos away from the free web. If facebook gives them a way to port-out to an external influence without losing their followerlist that's great.
Doesn't seem likely it'll go that way though. That ain't the kinda company Facebook is.
https://techcrunch.com/2023/03/09/meta-is-working-on-a-decentralized-social-app/