To be an alternative to facebook, it should at least do 50% of what facebook does, and it should be accessible to all.
Anything that takes more than 3 steps to get it running it's going to keep people out. And if you keep people out, you don't have a social network, at least not anything like facebook where your grandma and people you went to school with but never met (or pretend you never met) are.
Plus you need marketing, a business plan, and so much more than just code that puts people together on the same page.
I hope for a social network where the data belongs to the user, but unless you get the complication out of it... it will be just something cool but not worth the time.