Time, sure, but also I think that instead of the exec-level support he wanted he instead got the impending doom that either:
a) Facebook will knock on his door again at a later date asking to "acqu-hire".
b) Facebook will eventually release something in-house that will compete with his app (and most likely win due to Facebook's large momentum).
With the impending doom stuff aside, I still don't think that he should've expected getting exec-level support for his product walking in to the meeting. Facebook doesn't _need_ to give him anything. So yeah, he wasted his time, but that's _his_ problem, not Facebook's.