Mostly agree with you there, except that Friends Reunited and similar social networking sites like mySpace probably went out of fashion because Facebook became so dominant.
It's simple internet economics of 'winner takes all'
FB needs to find a way to exploit the network information they have. One possible way might be to use their database to locate Malcolm Gladwell's "Connectors, Mavens and Salesmen"
described in Chapter 2 of "The Tipping Point"
From
http://www.wikisummaries.org/The_Tipping_Point
Chapter 2: The Law of the Few: Connectors, Mavens, and Salesmen
The attainment of the tipping point that transforms a phenomenon into an influential trend usually requires the intervention of a number of influential types of people. In the disease epidemic model Gladwell introduced in Chapter 1, he demonstrated that many outbreaks could be traced back to a small group of infectors. Likewise, on the path toward the tipping point, many trends are ushered into popularity by small groups of individuals that can be classified as Connectors, Mavens, and Salesmen.
Connectors are individuals who have ties in many different realms and act as conduits between them, helping to engender connections, relationships, and âcross-fertilizationâ that otherwise might not have ever occurred. Mavens are people who have a strong compulsion to help other consumers by helping them make informed decisions. Salesmen are people whose unusual charisma allows them to be extremely persuasive in inducing othersâ buying decisions and behaviors. Gladwell identifies a number of examples of past trends and events that hinged on the influence and involvement of Connectors, Mavens, and Salesmen at key moments in their development.