Yup. The Facebook brand was long dead, and Meta is a good tech name even outside of AR/VR or metaverse. The fact that no one calls the company Facebook anymore shows that the rebrand was successful.
It's very different though. Alphabet was created more for financial book keeping. Google apps have no Alphabet branding. On the other hand, Meta was created because the Facebook brand was down in the rabbit hole, almost every product of it has the Meta branding prominently displayed.
Anecdotal but my parents know about Meta, because they use FB/Messenger daily. They have no idea what Alphabet is.
I’ve heard MANGA suggested as the acronym with Facebook’s new name. Though maybe it should be MAAAN, said in a tone of exasperation at tech company activities