This is correct: specifically, Facebook implements exactly the privacy people want for other people's information: that they should be able to access it at any time, for any reason, with no more than a mouseclick. FB users do not want to only be able to access information which has been specifically earmarked to them because that is not the FB value proposition for them and would result in 1/100th of the consumption. FB's privacy settings drive FB engagement, from whence all good things come to FB the company.