Ah yeah we have that, too!
Usually we use it to communicate our university social events, parties, conferences, etc. but I also notice that there's much "ego showcaseing" (Gotta add'em all, Pokém'on!) and people who get offended because their "Friend Requests" weren't accepted within 24 hours.
Think of Facebook as a simple and practical bulletin board for announcements.
I also don't like the "social networking" label that Facebook tries to associate with its brand.
In real tangible life, you can speak to anyone you meet on the road, "connect" with any person you travel to in any country of the world... whereas in Facebook you can only send announcements, etc. only to those contained in your closed network (friends of friends).
There's a similar website mainly for European students called "Studi" (with a two-lettered suffix for the respective country, e.g. StudiVZ in Germany, StudiLN in Italy, etc.) where such boundaries are overcome.
Very useful for finding part-time jobs, apartments for exchange students, commercial partnerships, event marketing etc.
I think the whole "picture/profile rating" culture is just there to keep people coming to those websites :P
It's not entirely your responsibility lightthecandle... it's their (Facebooks') strategies of social engineering and customer culture that you are trapped in.
Remember, that's an optional, nobody forces you to do so!