well, from what I heard the more popular a place is the more public it becomes to the point that it could be come 'totally public' if it reaches a threshold (no mention what they are, though).

And as they were clear to state all the way through - this is about creating persistent stories that are permanently attached to a place page on FB - so presumably your home's place page becomes public.

That concerns me about having private parties in private homes (pretty typical use case)