That doesn’t mean that Facebook hasn’t sweated losing the younger gen to Snapchat.

They lost some. That doesn't mean it's a trend or even a mass trend. The death/decay/end of Facebook is grossly overstated. It's hyperbole.

The party is dying down

We don't know that. IMHO, it's a vocal minority of people. It's an echo chamber. From my perspective, in my world, the party hasn't changed at all.