Originally Posted by sincats

True.. But this was already a model that was being developed long before FB. User generated content from high quality social site in niche categories were doing this and (at the time) were doing fine.

Having the users create the content (text, images, videos, live streams, syndication, etc.) is a great idea because each user becomes the traffic source and content provider.

This was well known before FB became what it is today.

The problem with FB is it is a monopoly and due to this it is very hard to compete with them. Even as a website developer I encounter potential clients telling me that "We already have a FB page and it's free, so no need to invest in our own website".

What the average user does not know is what it actually 'costs' them.

I don't think it will die, I just want it to.