The good news is that the eviller Facebook gets, the more of a market it creates for the "kinda like facebook, but not evil" competitor to come along.

I'm not sure how you could get traction, but aiming it directly at people who are disillusioned with facebook over privacy and stupid apps would be the way to go... position it as a "clean" and "sophisticated" alternative to facebook, and make it super-easy for people to control what information goes to whom.