I worked for a company that got about 1 million users of their facebook game, mostly purchased. They got this and the CEO mentioned it prominently. Unsurprisingly, paid users generate about zero revenue. Still, it probably sounded good to investors.

This company is bankrupt now.

A lot of business activity is fads. Social media will probably always be a big business, but it seems likely to me that companies have been rushing into it part not knowing what it is worth, part knowing it may not be worth it but it sounds good.