What Facebook provides is a completely unoriginal set of social networking tools wrapped in a mediocre presentation layer that requires you to surrender some of your most precious human rights in order to access it. Their users are their product. They sell you to advertisers and even more unsavory corporations like Zynga that are looking to lure you into a constant dopamine feedback loop to sucker you into buying virtual goods, so you can get that same dopamine fix faster still. Both corporations are parasites of the worst sort, because you're not only giving up your privacy, freedom, and money, you're doing so for a short term and minimal reward.
There will not be another Facebook, you can no longer be a "social network." Social networking at this point is just a common feature set that countless websites can easily replicate. In the future, social networking should just be a protocol that enables features like sharing photos, anecdotes, and relationships using a decentralized system. Bit torrent with identity. Or without identity if you so choose.