I agree that some people have to many "friends" on Facebook and spend to long on it, but I will pick a couple of points with your argument.
Yes, you are giving Zuckerburg access to your data, however:
1) What do you think he wants to do with it? Start some secret super-villain selection process for his own evil empire?
2) Data protection acts stop him doing "whatever he wants with it"
Also, if you were to use Facebook properly (so not spending 24/7 on it and having less than 150 friends) then would it not be a beneficial tool? It allows you to instantly say "hi!" to someone who might be on holiday on the other side of the world. It lets you instantly know what they're up to, and even more useful for someone like me (and I'm sure some other Aspies out there can sympathise with me here), is that it makes arranging to do something social (on the rare event we might feel motivated to initiate a social gather) so much easier.
Genuinely the one and only social gathering to date (of which I can remember) which I organised was me and a few friends going down to KFC. Organised via Facebook!
Facebook can be an incredibly useful tool sometimes, just deleting it might not be the only answer!