Farcaster founder Dan Romero stated in a post that "Farcaster's focus is on building an excellent wallet product that more people will actually use. Every new wallet user retained is a new user of the protocol.
In the past 4.5 years, Farcaster has tried the "social priority" path, but it has not succeeded. Wallet business is growing, so Farcaster will double down on its efforts in this direction. This means that new features and future positioning of the product will revolve around wallets.