It's useful for social networking. I don't particularly love it, but I gotta say it comes in handy for a few things. The greatest use I have for it, is being able to contact classmates at my college about assignments and the like. I'd never be able to do it otherwise because I'm a bit shy when it comes to talking to people so it really comes in handy. It's also good for planning parties and events, and getting the invitation out there -- and for photo sharing and posting for events it's really handy too.
Though if you're looking for a site that you can get some privacy on... I'd have to say facebook is not the place for you. D:
Though if you're looking for a site that you can get some privacy on... I'd have to say facebook is not the place for you. D: