Frankly, I think Facebook is being smart. With the advent of Google+ and it's own ubiquitousness in an era where novelty is a given, it is at risk of becoming irrelevant. It's changes (as explained on the Facebook site) continue to build on the insights that led to their success in the first place:
- Everyone is at least a little narcissistic.
- Humans seek connection and are curious about others' lives.
It remains to be seen whether the changes will help monetize the site any better, but I'm guessing that the changes will keep Facebook a very relevant part of their users' lives - assuring advertisers that the eyeballs are there. Share your thoughts on whether or not Facebook's approach seems strategic. We'd love to hear your opinion.