Facebook is performance art. It's a phonebook of people I lost contact with many years ago. It's also a quasi-broken emailing list program. It might be a decent advertising platform for small businesses. Don't know.
It's not a news feed. It's not stories relevant to me. It's not a way to actually have friends. It's not a place where people create things and share (mostly). People might think it's those things. Hell, Facebook itself will tell you that it's those things, but it's not.
I agree with the article. Facebook's biggest problem is that, because you're always talking to everybody, you really can't say much. Conversation is, and has always been, context-dependent. You don't say things at a funeral home that you would at a keg party. You don't share the same stories with your peers that you would with your grandma.
I've always thought Facebook was from the devil. Anybody that would use my own friends against me to suck me into a network of participating whether I wanted to or not? Not somebody with my best interests in mind.
I only use Facebook with the FB Purify plugin that gets rid of a lot of the spam. Even then, if I could abstract myself completely away from it, and do all of my social networking activity on my O/S without a browser or a layer of commercial crap stuck on top, I would in a heartbeat.
ADD: It might also be a decent shared photo album. Jury is still out on that one.
What really bothers me is not that these services like FB, Twitter, G+, or various cloud storage systems are not useful -- they are. It's that, instead of being internet standards, they're branded properties. And they're all doing the same thing. It's like if email was a completely different thing depending on which ISP you used. These things should be completely abstracted away from any corporate logo. If I want to store things in the cloud, for instance, I could care less who actually keeps the bytes. If I want to reach my high school chums, why the heck do I need some other party to help me do that? I control gigabytes of storage and god knows how many computational cycles on my personal possessions, and I need Google+ to tell me whose birthday it is today? Really?