I dont think itās right to say they are ābleeding usersā.
They DAU/MAU ratio last quarter was quite resilient and MAU decelerated, which is expected. Even if you think they are losing users in Core FB, itās being picked up in Instagram. As an FYI, their MAU numbers are only disclosed on Core FB and not on Instagram or WhatsApp, which have est 1b and 2b users, respectively.