We'll have to see, however there is one thing that Facebook sorely lacked that Google is addressing. The abilility to seperate people into different social "Circles" to control what you want to share with who. How many stories have we all heard about posts causing issues for a person because Facebook putting all your posts and friends all in one bucket.
To me, it seems like a no-brainer. The things I want my family, friends, highschool and college acquaintances, coworkers, and potential dating partners to see are quite often different enough that I don't bother saying anything at all.
I dislike Zuckerburg, Zynga, and the many other sleazy players involved with the scene. I have an account, and I use it as little as I can. Unfortunately, it has become so prevalent that ignoring it completely effectively makes one a pariah these days.
Not to suggest that this is unfamiliar territory for many of us here. ;-)
I don't see the issue. You can do that on Facebook with friends lists.
Example: you work with Joe, Bob, Marge, and John. Tom is your boss. You, Joe, and Bob are drinking buddies whereas you don't socialize with Marge and John.
You can have lists such as:
Work: Joe, Bob, Marge, John, Tom.
Buddies: Joe, Bob
Family: all your relatives
Friends: Everyone else
Do Not Share: Marge, John, Tom, Mom, Dad
When you post a status update, you can customize who sees it. For example, you could post something that you only wanted your Work and family lists to be able to see, but then under "Hide this from," you enter the Do Not Share list. Your family members, Joe and Bob will be able to see the post; but Marge, John, Tom, Mom and Dad won't (even though they also belong to your Work and Family lists).
All this complaining about Facebook allowing posts to be viewed by everyone is a result of not knowing how to use the privacy settings. It's not that difficult.