Sites have flat spots. I would be careful before counting those guys out.
Seems like everyone with money invested in web 2.0 really wants them to succeed. Your argument works equally well there. Don't be so sure of Facebook's infallibility, either.
Basically, everybody just chill out.
My bet is that the truth is in the middle as usual, just like when the first bubble bursted, it was a godsend who cleaned up all the mess produced by the basical non-understanding of the internet.
hardly indicative of epic fail
You have to understand that the average facebook user doesn't know who created facebook or what beacon is. Facebook will be around for a long while yet because it provides a useful service with a really big inertia.