I only skimmed the article until I realized they weren't talking about Apple starting a privacy focused actual social network. That's what I thought the article would be about.

So this is off topic but what I'm imagining is letting people connect with other iCloud users (aka friends and family) to share pics, videos and comment on them. Maybe they can link iTunes/App store content (apps, music, movies, etc.) with each other and comment on them too.

This might take a huge amount of more people off Facebook and bring them into Apple eco-system of services than meet-up like events at their brick and mortar stores. There are probably millions of FB users that just use it to connect with distant close friends & family to share pics, etc.

Edit: just to build on this idea a little, pulling people's actual social network (not acquaintances or long lost people they never see) could boost sales of their content. Let people share, like and comment on their favorite music, tv shows, movies, and apps with no ads.