I'm not sure how I feel about facebook either (from a technical standpoint, I feel the same way every developer I know feels: "[homer voice] doh! I could have done that in a weekend!"). But given the way its become the sharing medium for a whole generation of college students, it deserves a lot of respect and attention no matter how you feel.
For instance, if I meet someone (hopefully a cute girl) at a party, then using Facebook I can strengthen that relationship via inviting her to parties, writing on her wall, and so on. So I use Facebook to enhance existing relationships, not to develop new ones.
Also, I will never friend someone I haven't meet in real life. That's what Myspace is for.
Most of my friends hardly watch any TV. They're too busy living life. I'm not sure that's the best analogy.
The posts here remind me of the guy who loves to brag about how he doesn't have a TV in his house. To each his own, but television has had a huge impact on business and culture world-wide.
So even if you don't personally want to be a Facebook user, you might think about how it is transforming the way a whole generation of people interact socially, recognize the business and cultural impact, and conclude that you should care about it anyway.