On the one hand the dedicated chat app competes directly with Facebook Messenger, and potentially the low-level Facebook social network experience. It’s the same reason Facebook bought WhatsApp. This might seem an odd decision on the surface, but viewed through the lens of a company that wants to spread its tendrils as far and wide as possible, it makes sense.
The real reason that Facebook is pushing chat into its Messenger is to create another platform or silo from which Facebook can access you as a user. Facebook and Facebook Messenger are two of the most popular non-native apps on Android, alongside other Facebook-owned apps Instagram and WhatsApp.