The Media Library Extend → and Media Library YouTube → modules provide similar functionality, but look like they use a different approach.
Would it be possible to combine or integrate these approaches? I think there is a very strong case for standardizing a best practices method for these types of external videos/media integration with core media, in order to develop and support the best approaches, features, etc. and reducing unnecessary duplication of work and effort.
Closed: won't fix
4.0
Code
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It's likely this issue predates Contrib.social: some issue and comment data are missing.
Right now, it is not a planned feature.
If someone makes a patch or MR, I'll review it and maybe consider doing that way. What blocks me in that Facebook has strict permission approvals for Oembed API and makes hard to get it, so not many people will bother that.