Pros: -Pictures of their girlfriends naked
Cons: -A complete lack of relevance and editorial purview.
Every photo a user uploads to Facebook sends a message about who that person is. Out of about 300 photos I take on my iPhone, 1 makes it to Facebook. I have a few friends that upload lots of crap. For the most part, those friends had their feeds blocked by me fairly quick. These are not interchangeable events.
Facebook's biggest threat is a loss of meaning through noise, not users using an alternative app to capture their media.
As for Facebook Messenger, I'll be damned if I let Facebook permanently record every last one of my private message for eternity.