You’re not wrong but also I see why people say it’s dead. What it was for, for me, in 2008, was seeing the life updates of humans I care about and to share my own. Pictures, genuine opinions and rants, new relationships, travelogues. They long ago modified the platform to make it nearly impossible to use it for that purpose, by refusing to surface any of that content, preferring to show you ragebait and “viral” content from strangers instead.

When normal people noticed the tremendous drop in engagement from friends on their personal content, most of them stopped posting. So today, even if you find the hidden option (Feeds->Friends) that gives that feature, there’s nearly nothing of value left. For me, I have two friends still regularly posting, but 2/3 of their “posts” are just political links or reshares.

It is true that it is useful for things. I have groups about niche interests or local stuff that still function, but Meta could decide at any time to remove most group posts from the feed the same way they did with “friend posts” and links. If they do that, it will probably severely damage the usefulness of Facebook to people who use it for that kind of purpose, the same way as it did for people who used it to keep in touch with friends.

The only type of user that doesn’t need to worry is the one who wants to use Facebook as a lens to see popular viral content from strangers.