Precisely. Of course people don't plan an exodus from Facebook yet. Exodus to what? There are no prominent Facebook competitors with better privacy constraints. Nobody bothered to start one over the last few years, because that space was dominated by Facebook itself, before the company decided to abandon it! Nobody wants to pick a fight with Facebook on its own turf. And nature may abhor a vacuum, but a vacuum doesn't fill up instantly.

It will, of course, be harder to grow a privacy-enabled service than a promiscuous one. It's harder to establish the viral loop. But that doesn't mean it could not happen, and it is probably too soon to tell if or when it will.

Facebook will look fine for a while, but the damage to their brand is permanent. People don't jump ship without motive, means, and opportunity, but now the motive is firmly in place for a lot of users. Wait and see what happens if and when someone invents the means and offers the opportunity.