Is Meta platforms a buy?

I've contemplated buying LEAPs or maybe shares on it but I'm holding off for now since I think the broad market still has more downside short term. I still need to research into it more but it trading down to COVID prices in just a couple weeks considering the market cap is some serious selling.

A P/E ratio of 14-15 with 35% YoY growth seems like a steal -- but their guidance for the next quarter took a pretty big hit for revenue. The whole idea of TikTok taking over Facebook for good isn't enough to push me away from it. They still have a massive userbase, own Instagram + WhatsApp (more of an app that's popular outside of the US), and have ridiculous patents and machine learning technology for AD revenues as well the Occulus + VR segment. They have a top 10 balance sheet I believe so it's a very strong company at the core if you look at stocks that way.

The biggest issue I see is their massive investment into Metaverse. Another issue being that in their CC they mentioned ad revenue being an issue due to Apple cracking down, I think that's another factor too. Lastly (kind of a stretch but an observation), social media in general has gotten an extremely bad backlash the last few years -- just look at the documentaries that expose the concepts of ad targeting, mental health issues, political drama, 'fake news', etc. People are starting to catch onto the dirty tactics of social media companies and realizing it has somewhat of a net-negative on society. 

That being said, Zuckerburg is a very smart and young CEO so I think he's got some trick up his sleeve, remember this guy was all over cryptocurrencies a few years ago, he's ahead of the curb and the idea that he's some IBM dinosaur that will fall behind is absurd; this is primarily the reason why I feel okay taking an investment in it. I think if you believe Facebook is more than a social media company, then it's a good buy, if not then I'd be careful. With a some $230B market cap cut in just a few weeks, it will surely need to consolidate once buying momentum comes in, I wouldn't be quick to jump into it right now. 

Would love to hear everybody else's thoughts on it, I haven't done too much serious research into it but this is really just my casual thoughts.