These are some things that you get in exchange for giving up your information:
A place to store photos
A platform to publish your photos
A communications platform (Messenger)
A platform to stay officially connected to things you "like" and their updates
Near instant publication of your brain thoughts to a curated group of people
High availability
Maintenance of connections to other people
IRL event management
Mobile and web applications to use the aforementioned
Some of the best engineering talent in the world working on the aforementioned
I think the average person does get a lot in exchange. Look at all of the other social networks that tried to solve this in the past and failed. I don't see any legitimate alternatives.