I actually like Facebook, but I do understand what you are saying.
For me it is good, because I have a high functioning form of autism (and also am really shy). It allows me to communicate with people that I might normally just avoid or not be able to relate to altogether.
That being said, I cannot believe the things people share on it.
Admittedly, there are good points to FB and you bring up some.
But I am curious how many people have accounts but never really use them. I know of family members who have accounts but never use it.
Curious how much of the 500 million is real?
My guess is not a lot.