Now that they've opened it up I consider Facebook to be essentially another web built on top the main web. One that has identity, messaging, sharing, networking, etc built in. Much more literally a web 2.0 than the other definitions of that term.
Assuming the Facebook guys don't do anything weird, it should be a marketplace much like the main web: survival of the fittest. Anyone who thought Facebook was going to let them skip the hard part of "making something users want" was just confused.
I'll be working on Facebook stuff long after the Techcrunch 50,000 has moved on.
