I read alternating ridicule and conspiracy on the subject of facebook, and I can't help but feel it's all posturing because the effects of this system over time exceed anyone's ability to imagine.

The inferences possible through 'network theory' simply stun me. I'm privy to information about small company, without access to any sources of 'big data' aside from the address books of people who download the app, and it's absolutely shocking what you can learn about people when you know some of their friends. And they're only looking at one signal.

I think you're perceiving accurately to describe FB as something alien.