This undervalues Facebook's social network moat, which is honestly what they should be leaning into: a more interactive Yellow Pages / local groups directory.

That's much harder for competitors to disrupt, especially when you give people tools to amass and customize content on their pages. E.g. wiki's, info, etc.

There's no moat.

Inertia isn't a moat.

Source: I've re-spanned my social graph several times since Usenet.

It's fine. People aren't corporations.