[rvz]

> Did they just make some mistake/mistakes that led to this, or is it more of a natural decline, with users going to other platforms or quitting social media platforms altogether?

Natural generational decline, and it is basically one generational tyrant (TikTok) dethroning another (Facebook). Same thing happened with MySpace.

> Do you think other social media platforms will experience this decline as well soon or is it more of a facebook only privilege?

Every single social media platform will experience a decline of users, especially through new generations. It is not exclusive to Facebook. That's why they are focusing on Instagram instead. Sooner or later Instagram will 'decline' in users. Then on to the next.

Either way, the creators always lose as the platform either goes on the public markets or the small creators start to lose money to corporate users / businesses jumping on the platform.