"Obviously some people find value and fun in facebook applications plus they generate pageviews and ad dollars so everyones happy."

They generate externalities, which make some people unhappy. When you see Facebook Vampires, think of Facebook AIDS (http://www.byrneseyeview.com/byrnes_eye_view/a_little_more_o...).

Yes, I suppose it is a bit bitter. And certainly, some people find value and fun in applications; I only argue that those people are primarily high-schoolers. In my humble opinion, alienating the loyal and valuable users, and catering to the younger users, is just asking for disaster (and perhaps a mass-exodus in due time).