While your last two paragraphs are true, it's not clear they apply to this case. What is clear is that some folks have some very wishful thinking with regard to Facebook, the company. Ask yourself why.

No matter what you may think of FB, it is going to come down to the actions of the FB execs. If they knowingly tried to mislead common investors, then common investors are certainly not to blame.

Meanwhile, the FB stock is becoming a pariah.

So even if they have some valid reason for changing their estimates days before the IPO, and they can explain why the insiders were the only ones who seemed to get the message, it may be a moot point. Because they have spooked investors.

And it's a stretch to try to blame investors for being spooked.

The victim here is actually FB.

The end of FB, and its replacement with a private and optimised means of sharing that _you_ control, is the beginning of a better web.

It may not be Diaspora. There is still lots of time for this to play out.