I have no doubt that having a website or app space where you can continue to just share your life with your closest IRL friends and family will always have a place.
But Facebook decided that it wasn't just going to settle for being that space once it decided to change the feed from chronological to algorithmical, kept endlessly recommending people you dont know or care about as 'friends' and added in nightmarish things like the 'global feed' on Instagram as if anyone in their right mind wants to see a constantly changing feed of every image uploaded by complete strangers.
Facebook will die and something better will take its place. So it has been with all pieces of technology since someone came up with the idea that a sharper stick would provide easier kills for food.