Could not disagree more. As someone who has been on facebook since 2005, I'm using it more every year than I've ever used before. I think the facebook product is extremely well thought out. For example, I make extensive use of the post-level privacy features which allows me to post items that I don't want certain people to see.
You alone, most likely. The majority of people don't care to dive that deep, and as such these useful features you use simply don't exist for the majority.