Google "facebook privacy concerns" and see for yourself. I'm not doing your research for you.
And yes, it does suck. I respect that others can disagree, but in my opinion, it sucks.
"sorts of people"... lol. I have about 200 friends on facebook. Out of that 200, yes I will freely admit that about 180 of them are only vague acquaintances and generally don't post anything of interest to me personally. The other 20 "proper" friends are all like me - they have BETTER THINGS TO DO than spend their time on facebook. There is the occasional funny status or whatever, but nothing particularly mind-blowing.
You are basically saying "if you don't like facebook then your friends are all boring". There is just no logical path from premise to conclusion with that statement. I'm sure facebook would be great if I had 100 people who spent large amounts of their time posting and discussing things on it, however as I said, my friends have better things to do like... you know, having a life. Studying, travelling, meeting up in person etc.
I will admit that facebook can be good for, like people have said, keeping up with bands etc etc. But overall I just don't like it.
Why are you on Facebook?