The social media set up by Facebook is a public service provided by the Facebook company to the society. It is open to all people. Facebook unreasonably restricts some people from using the services provided by Facebook, which should be unconstitutional.
Actually, Facebook is set up to make money for their share holders, just as all 'for profit' companies are.
Facebook's business model is free to users so they can view ads and, more importantly to Facebook, free to provide their own private data in their private profiles, pictures, posts and calendar items, all to be data mined and sold by Facebook to other companies.
You can legitimately argue that is a bad business model, that damages user's privacy and security, and that shouldn't be allowed to persist, this selling of user's data to companies, given the legitimate privacy concerns that go with it. I would add at this point that I do believe that personally identifying data must be scrubbed so that it can't identify an individual - at lest I think so, and if not, then it most certainly should be so.
But think about this. Once such a business model is banned, all of a sudden all those 'free' Internet services users rely on on a daily basis are suddenly going to become fee based, so user's actually money will have to be spent for these previously 'free' services.
Frankly, Facebook can 'mine' what minuscule data I have given it, and my click stream, if they want. I don't really care. I'm just very careful about the data that I upload to Facebook, refuse to use their apps, be it on the PC or on the phone, and only use the browser interface - for fear of these apps 'snooping' data not meant for them.