As much as gamers critique Meta's handling of Oculus, Oculus would be dead/gone by now if not for the acquisition. Meta has been dumping fuel/cash on Oculus to keep VR alive and the VR experience has mostly improved over the years.
Yeah, there's no way the Quest would even exist if it wasn't for Meta's multi-billion VR money bonfire. The whole industry would be poorer without an affordable standalone roomscale VR unit.
An independent, gaming-centric Oculus probably wouldn't have survived 2016 when HTC Vive shipped a much more advanced product than the Rift.