Here is an amazing graphic that shows how Facebook's privacy settings have changed since 2005. I would say it was day in 2005 and closing in on night now -- who knows what is next.
There is no shortage to people giving the thumbs down to Facebook these days -- we just may be at the inflection point where something else takes the stage. I have been following the tech pundits/journalists and most of them seem to be souring on Facebook: Leo Laporte, Dave Winer, Jeff Jarvis, Steve Gillmore, and their peers all seem to be giving the Facebook "like" idea a thumbs down.
So, what next? Even Mark Pincus is turning away -- and he (Zynga) has benefited from Facebook more than anyone other than Zuck himself!
Could it be time to start taking back identity management with a service like ClaimID?