Facebook is like a forum that is easy for everyone to understand and has no topic other than drama, pictures, and stalking.
However, it is the ease of use that makes it handy as a place where you can host pictures, form local clubs, and keep others up to date on the happenings of your life (if you want) or your organization.
The problem is, many have a hard time keeping their words to themselves. They spill their guts on facebook, hoping someone will notice and give them attention. Worse yet, when people respond to their updates in a negative manner, the drama begins, and sometimes ends with people doing really stupid things.
I'll admit, I update my Facebook status once a week. Usually because my family (who all live 8 hours away) likes to see what I'm up to. My status usually is a summary of week's news of my life.
Mountain Biking in my city is a strange underground occurrence. Lots of people do it, but no-one organizes it. Over the years, this lack of organization has left the county pretty much devoid of good riding spots. Some guys have gotten together to create a club on Facebook. Personally, I hate the idea. But it's free, and it gives me a place to put maps. Without maps, riding unknown areas is difficult.
So Facebook does have its advantages, its just like any other thing in life, you've actually got to THINK about using it, and not be absorbed into the collective zombie mind-fu*k.