Facebook, the product, is no longer this super sexy app that college kids are checking out. Looking for Facebook to be that, you will probably predict its future demise.
But that's not what Facebook is anymore. Facebook is the social graph expressed in Internet form, and is so interwoven with the fabric of the Internet that it's difficult to avoid, even if you're intentionally doing so.
Some products phase in and out, that's for sure. I think Zuck's realized the potential for that to happen, and once he got on the top of the totem pole began preparing for it. He turned FB from an app into a social graph and API that is everywhere, and now he's paying from $1B (Instagram) to $19B (WhatsApp) to get some of his biggest would-be enemies to join him. He does not screw around with the Innovator's Dilemma.
I'll be the first to admit I despise my current Facebook feed. It's full of clickbait articles mingled with the occasional update from someone whom I may or may not care about. That being said, I have tried to delete Facebook multiple times, and to no avail. I still have my hopes that they'll change the algorithm a bit and kill the effectiveness of the clickbait to the same extent they killed the spamminess of those social games and widgets. (Although they still exist and are annoying, they're an order of magnitude less annoying than they used to be.) But, despite my best efforts to avoid it, I still check my Facebook feed at least daily.
What pulled me back? At first, it was that Facebook was integrated with Spotify. I had to create a new account and build up all of my playlists, songs, etc. from scratch. That was kind of a pain. Then I deleted Facebook again. I ended up missing a party that was only planned on Facebook. Then I missed the news that a friend was engaged, and another friend was pregnant. Then I couldn't log into my Kiva account to redistribute the repayments I had received because I had used Facebook to sign up. Facebook is just an incredibly, incredibly sticky product. Network effects are a bitch.
Sure, hackers will say, "Well your friends should have called you instead of putting it on Facebook." But they didn't. Even though I'm not in college, if I'm not on Facebook I'm missing the party. (Even though "the party" is now simply knowing that my friend finished med school and is moving to Michigan.)
Facebook isn't as sexy as it used to be, but it has become increasingly difficult to avoid. Think about that - we have to figure out ways and work hard to avoid a product. That's why a significant proportion of the Internet's users log in to Facebook every day. Unless some major shift takes place, Facebook isn't going anywhere anytime soon.