That is the onboard recording feature of the Meta Quest, it does have a way to change the video codec but the audio codec is fixed.
I'd also argue that most off the shelf stuff that records videos in any form uses AAC as a default simply because it's ubiquitous and thus has great cross compatibility.
It's mostly for youtube shorts that don't get a ton of views in the first place, so I am going for a quick and easy fix that keeps the file size mostly the same.
But you are of course right, if I would go for a professional setup I would not recompress it
AAC is pretty horrible quality. Just use PCM, the size difference is nothing compared to the size of the video stream.