actually, I think that facebook does many things well, though I think they are a deeply awful company and will ultimately fail unless they embrace openness and a distributed model

facebook understands parcellation, presence, collectives, networks, rich connections, diversity, the need for population density, the need for evolvability, the importance of adaptation and much much more in a way that puts most other social systems to shame. They really don't get trust at all, and they probably know that a centralized model will ultimately fail, but they are probably happy enough that they are going to get huge amounts of money for at least a couple more years before the penny drops and the weaknesses of their centralised approach allow a better system in. Or that they figure that out. Or that Hell freezes over. Whatever comes first.