They had some 'nerds' (technical term) on Newsnight on Monday talking about the internet, and they agreed that social networking was, in fact, ruining the internet. This was because it was basically just everyone joining the same thing and conforming, there was no individuality - which is what makes the internet great.
The also agreed that the older generation actually use facebook for useful purposes, but the younger generation are idiots who get swallowed up by the conformity of it all.
That is about all I can add to this discussion, as I don't use the damn thing and never will.