Yeah, actually. This has completely derailed what has historically been a powerful platform for progressive and leftist movements going into a US election cycle. Same with Twitter. Meanwhile, the MAGA propaganda machine at Meta chugs along unfettered.
I can't see any other motivation. There is certainly no economic incentive to run either business as they have been, but running the companies into the ground as a means to control or destroy opposition communication platforms definitely makes sense.
Oh, it's worse than that: these are the same people screaming and yelling about "indoctrination" for acknowledging that not everyone is heterosexual or cis-gendered.