Facebook, Over the Top?

Lately if you havent noticed, Facebook has become the new most popular site and best way for people to connect with eachother. But now a days everyone I know has a Facebook, and it is being used by older generations to "connect" with the younger generations. Such as Sarah Palin and other politicians having their own facebook pages in order to connect with young voters and get their ideas out to the public. But to my utter dismay today I learned that even my own Dad has a facebook, a fact which will forever change my view of facebook. This leads me to consider, what is the point of facebook? I could live my life without ever going on facebook and yet I still use my facebook. Facebook started out as a way for college students to connect with eachother, but now it is almost too big. Now instead of just being able to communicate with my friends, I am bombarded with hundreds of different events, or farmville invitations or many other topics. Things that to me atleast are completely useless. Many people view facebook as an ultimate website where so much is going on and its defining an entire generation, along with twitter, but is it really that important? I atleast do not think that how many people on facebook like a certain celebritys page or any of that stuff that TIME magazine recently deemed important in how "hip" the TIME 100 list was this year. In my opinion people are taking facebook too far and this will lead to more and more time spent on the site and more resources put in to a very flawed site. What do you think about facebook? What are your views on how facebook has spread?