Yeah, I don't know about underestimating them, I've been chatting back and forth with our FB account manager regarding our business needs for something in their Ad biz.

Turns out, they can't deliver on this pretty universal feature (even Twitter has it), so huh yeah, let's talk about how great they are again.

We overestimate change in the short-term but underestimate it in the long term. Any individual news story isn't going to be the reason Facebook loses 75% of their users over night, but the steady march of these stories isn't going to have no effect. I find it easy to imagine a world where in 5-10 years, Facebook is a complete non-entity, and for all the articles written that claim to understand why, nobody will actually be able to point at any small set of events as an explanation. It could be the very small contributions of a lot of events.

I (physically) don't live in SV or its bubble, and I can assure you, the news that Facebook isn't necessarily trustworthy is getting out there to "the masses". It isn't necessarily changing people habits yet, but the process is certainly started. By the time it causes noticeable problems for Facebook, it may be too far progressed for them to do anything about it.