Ask HN: Is the inevitable future of social networking software distributed?

I see little advantage of a centralized repository of social information (a la facebook) over a distributed model. A step in the distributed direction took place with federated models popping up (a la Diaspora), but now that everyone carries computers with them and we have DHT and encryption technologies widely available, I kinda expected to see a big push in the completely distributed direction.

Will centralized/federated social networking applications inevitably be replaced by distributed ones? Is Facebook doomed?