We all make mistakes. The important part is to learn from them and do not repeat them.
Since the beacon, Mark has always been sincerely recognized his mistakes, ask for forgiveness and try to fix those mistakes.
I see maturity and integrity of character in this.
Things that the young Zuckerberg did not have (ex: https://techcrunch.com/2011/06/25/im-ceo-bitch/ and https://i.redd.it/cqyiaxm1j6n01.jpg ).
I find remarkable that was able to quickly grow up and become a better leader.
Isn't Facebook's MO that they do basically whatever they want and when called out for shady stuff they issue some sincere apology and try again?
Even with all the privacy issues, I think the original idea has merit and could make Facebook more than just what it is now. And while I haven't thought this through properly, I think it's possible to find a way to pull off much of what they promised while respecting the privacy of their users.
Perhaps I'm wrong, and they gave up on the Graph API because they knew what would happen, but I can't help but wonder if the main reason they went the route they did is because of lack of imagination and a desire to 'make money' in a more conventional way (advertising?).