I disagree. Privacy concerns are not over intentional sharing but over unintentional sharing.
Unintentional sharing on facebook is solely caused by its horrendous interface. The interface makes it too hard to precisely determine what is being shared to whom. Given that cognitive faculties and time are limited resources, the average user will not have time to decipher facebook's sharing settings. The result is they have a high likelihood of unintentionally sharing information, resulting in privacy concerns.
In real life, if I tell something to a trusted former high school friend living in a different state, I can assume at over 98% confidence that my boss at work will never know the content of the conversation. They are two completely distinct social circles, or groups of friends. The channel of communication is different for different groups of friends. This is how real life works.
People expect a well designed website to work in the same way.