Setting aside your personal judgments on how other people spend their time, do you actually not think that facebook has had a large impact on how (primarily younger) people socialize, understand each other, and think about their relationships?
[1] Sending various forms of media to each other, having a historical record of communication, etc.
[2] Privacy controls, control over your data, etc.
I mean, I recently left my home town to go to a new school and when I wanted to say good bye to my friends who I don't normally talk to- I wrote on their walls, but I also called them-
But in the end, you are right, I'm not quite subjective because of the way I grew up.