Times have changed now my facebook feed is only ads (from facebook or people in my list promoting their own thing) and news articles where people are writing things to each other that they would be ashamed for if read to their parents
Now LinkedIn is like that.
It's still like this in Europe. Comedians, bands, bars, cafes, basically any kind of venue and enternatiner, organize and announce their events mainly on Facebook. There isn't another alternative that's as seamless and all encompassing as Facebook for this.
With one facebook account I can follow all the bands, bars and cafes in my city without them having to build their own website(they don't even bother) and me having to subscribe with an account to each of them separately.
Also, the marketplace is great for selling old crap and for finding plumbers, electricians and various handymen as Facebooks is their main free advertising avenue.
SO IMHO, it's far from dead, its just not the cool new thing anymore that gets you hooked, like TikTok, but unlike TikTok it's actually more valuable.
And honestly, it’s fine. HN talks about Facebook with out of control hyperbole, but I have no problem logging in and finding what I need. I could see how it would be a problem for people without impulse control or with social media addictions, but then again HN is a well known time waster website with social features as well.