If you're that concerned about such a feature it is easy enough to not use the app, or simply not use this feature of the app.
So I think the general consumer would be more concerned about all these random places they go knowing who they are and details about them. This is what I believe Facebook is trying to state, that no business gets any of your information. Not that Facebook doesn't get anything. So yes they poorly worded what exactly is private and what isn't.
Still this beacon network may be also alternatively mapped (or ripped from FB servers) by the community, released as an offline db and then used as a fully private navigation aid or something like this.
So I don't see how this changes anything. They already have this data, the beacon doesn't change that.