I think Facebook's stated goal is at odds with the way the platform presents itself and how people use it.

Facebook should be a great way to connect with people new and old and keep in touch with other people's lives and maybe plan real life events. But Facebook's home page is a newsfeed that rarely shows you posts from friends that you care about and you have to go out of your way to make use of the platform's better features. Also, since most people don't unfriend/unfollow old connections, as time goes on, Facebook's utility naturally goes down.