Meanwhile I haven't used it in 15+ years and don't ever feel the need for it. Probably in part because my better two-thirds has that side of things covered.
I think "Facebook is dead" is a trap for people who can only reason about the world through their own perspective.
When normal people noticed the tremendous drop in engagement from friends on their personal content, most of them stopped posting. So today, even if you find the hidden option (Feeds->Friends) that gives that feature, there’s nearly nothing of value left. For me, I have two friends still regularly posting, but 2/3 of their “posts” are just political links or reshares.
It is true that it is useful for things. I have groups about niche interests or local stuff that still function, but Meta could decide at any time to remove most group posts from the feed the same way they did with “friend posts” and links. If they do that, it will probably severely damage the usefulness of Facebook to people who use it for that kind of purpose, the same way as it did for people who used it to keep in touch with friends.
The only type of user that doesn’t need to worry is the one who wants to use Facebook as a lens to see popular viral content from strangers.
It's hard to imagine because when you're out, and peek back in, your account no longer contains strong interest signals, and so your feed contains absolute junk (scams, engagement bait, etc.)
Whereas a heavy user would see tailored and targeted (and one can argue, useful) posts.
Nowadays I sign into my FB account every 3-6 months or so to find something specific about someone, and I see that my feed is dominated by 4-5 people (out of around 1,000 "friends"). If I'm curious and start searching for other friends specifically, nearly all of of them have not posted in years.
Sure, there are some active community-type spaces there, but that is a very small part of what FB used to be.
I am in a few photography groups and see some photos people want comments on all the time and I'm always saying "It's not the length of the lens but how you use it" and stuff like that.
I find out about community events like local bands and broom dancing all the time on Facebook... Students do tell me though that they think it is dead.
Its ubiquitous for reselling.