And by the way: This man is a genious. He made half the population of the world believe that privacy isn't something valueable, that we should share our most precious moments with half the world.
Edit: minor change
In some sense you are right, but in this context you are missing the point. The whole point of this recent uproar is that 3rd parties got access to significant amounts of data without consent. Why should people expect that to happen?
So for a social media company that is free for users and requires a huge software development effort? What are their assets? Pretty much just users. Maybe their code based. I think it's almost inevitable that they put ads on stuff and then later sell your data. What else were they going to do? Start asking users to pay a subscription? Sell the software so that others can spin up their own social media websites?
Its become a cliche but "if you're not paying for it, you're not the customer, you're the product". Now obviously companies with products and services you pay for, are still going to screw you over. But yes, I think this is exactly what people should expect to happen.
I'm not deleting my account. I only signed up because I was using the Facebook API for something once and needed an account to test. Other than that, I occasionally post links to news, pictures (look at my food! look at this funny animal!), and I check on groups that I belong to, especially the trading ones. The groups are especially useful. I also only ever log in from a single place, my mobile.
It always amazes me how people use it. What did you think was going to happen to that data? How do you think a service as large as Facebook was paying it's bills? People don't need to stop using Facebook. They need to sit for a second and think about they are using it.