Love you Mike.... but:
1. This is an unfair slam job designed as weekend link bait
2. Completely incorrect analysis of the technology business
Facebook started as a hot or not knock off and iterated to success. They really didn't hit big success until image hosting and the app platform took off.
Putting an unfinished product in the market and iterating on it worked pretty well for Microsoft didn't it? I mean, the first version of Windows was a run time that could only run one app. It went on to be the best selling operating system of all time. Microsoft Word sucked for three versions.... the took 99% market share in word processing.
I expect #1 (and in fact salute your link-baiting skills), but you're way off base that their not doing the right thing by trying everything under the sun. Swinging and pivoting is the name of the game.
Look forward to brunch tomorrow!