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Personally for me as a user it's because I don't trust Facebook.

I also think it is a bad idea to outsource your authentication mechanism to a single private entity. What happens if your user deletes their account? What if Facebook thinks your site exhibits suspicious behavior and decides to not send along its users' authentication? Probably won't happen but if it does it could be a world of hurt, much like PayPal.

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For the record, normal users /do/ delete their accounts. Users also often have unpredictable priorities, as they are complex people in their own right ;P. Example: they may use transient e-mail addresses (assigned to them by their ISP/school/work) and then get "locked out" of their Facebook account because they forgot their password and can't fix it due to a new e-mail address. Rather than going to the trouble to fix the situation, they may instead simply create a new account, and take this as an opportunity to have a "clean slate". Meanwhile, they may consider your website, which they might even be paying for, to be critical to their lives, and now they can't log in anymore.

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