Earlier quoted context omitted.
The "Friends" tab (sometimes "Feed" instead; the A/B testing on this one seems strong) only shows the posts of people you know. Events is still there as well. But in both cases the rate of creation has dropped dramatically since the time you remember, making these nearly useless. That's why the social media services have had to focus on content created by professional content creators instead. The outcome was inevita…
What's the point of posting stuff if nobody will see it because facebook decided so?
But, in practice, nowadays people who have something to share with those they care about will do so through some sort of messaging application, including Facebook Messenger, so posting really only ends up being for the sake of the casual acquaintances you've accumulated as Facebook friends over the years. What, exactly, do you want to let them know?