Only place I hear this is on Hackernews and Reddit. It's not a coincidence these are two sites where a huge portion of users are socially awkward single males in their 20s. For pretty much every other demographic on the planet, Facebook adds incredible amount of value to people's day-to-day life. They discover their long lost friends/classmates through Facebook. They can keep in touch with each other's life events from thousands of miles away. If that's not "adding value to human life", then I don't know what is.