In many parts of the world it definitely is THE internet. Nearly every business on my street uses Facebook as their webpage. It's incredibly rare to see local businesses here with their own proper site.

I see, you make the distinction based on public vs. private. The weird thing is, isn't this just giving private companies the ability to have a more lax set of standards then one we would place on a public good? This seems to just incentives public->private good conversion more, for they don't have to play by the public good playbook.