You could replace this whole article by saying "facebook is a private company and they have all your data, from posting and messaging as well as their cookies". Its just a bad idea at its very core. All these examples are trivial, who cares if they fake endorsements and track your location? Its like building a house out of sand and then people point out that a chunk fell off here or there. Its a house of sand, it was…
It doesn't sound like you actually understand the service Facebook provides, which makes your claim that it's all about to come crashing down very suspect.