In what way is Facebook more complicated to split up than Ma Bell was?
It seems to me that if we were to change Facebook from its own platform to an XMPP- or email-style federated network, then such a network would have to be constructed in the first place.
Not saying it can't (or shouldn't) be done, but I do believe it is a more complex example than Standard Oil or Bell. We've also got international borders and regulations in the mix.