I found the greatest advantage of facebook - particularly in contrast to myspace - was that it presented the same set of information consistently. No personalized theme, no background music - everyone's page looks the same, which makes it so much easier to see the content (which is what's important). The rest of the web can look like an explosion in a paint factory by comparison.

If anything I think the greatest counter is the rise of twitter bootstrap, giving lots of content across the rest of the web a minimal, consistent look.