I live in a college town (and so am constantly surrounded by the up and coming generation) and as far as I can tell Facebook is alive and well: essentially _everyone_ uses it; they don't spend a ton of time posting on it (they do that mostly on Instagram), but everyone has an account and a ton of critical information is essentially only ever discovered or disseminated due to people using the two massive local groups (a free and for sale group, and a very awkwardly named meme sharing group) that each have tens of thousands of members. I think a key problem in these discussions is that people like to conflate "posting on timelines" with "using" Facebook, whereas most usage of Facebook is shifting to different use cases.