What is facebook?
Perhaps there are many answers, but Facebook’s current settings looks like a primitive form of the society’s digital memories. A big digital memory about society’s activities his inhabitants and other potential interesting things.
Resembling a digital collective human memory, can be a big step forward or not. The risks are that world societies are non-uniform, that is, the information can be used and abused to achieve wrong objectives.
I cite (IMHO) the old Einstein quotations.
A perfection of means, and confusion of aims, seems to be our main problem.