This appears to have short term benefits (huge view counts), but surely it turns people off long term and impacts the brand.
They blatantly cannot do this unless they actually implement their real names policy. Which they won’t.
Facebook will probably be replaced with more flexible identity and social graph architecture that's more decentralized.
It's different from McDonald's because humans have to eat, and McDonald's can always pivot or acquire other companies to provide the type of food that's more in vogue, but what Facebook has created is equivalent to a nightclub. When a nightclub loses its reputation it's very hard to recover.
Whether or not we have reached the maturity with social media to make facebook as difficult to unseat as apple, adobe, microsoft, or google remains to be seen. But they will not just evaporate like the wonky myspace of old. Times have changed.
I personally think they have reached that level, and also do not use them because I greatly dislike social media in just about any form. But I am self-aware enough to know I am part of a tiny minority.