I deactivated my first account 8 years ago, but got back on to re-connect with my old pals and acquaintances from back in the day. For that reason, it was fantastic.
After another year, I realized that I can't actually say ANYTHING interesting on this platform without offending someone. There's a lot of variety in my crowd. I have the sense IRL to know that not everything is for everybody, but that doesn't matter much on Facebook unless you want to spend hours and hours hand-crafting subsets of your friends for different topics (I don't). And I have zero interest in posting selfies or status updates of what's going on in my life, so that made the platform exceedingly boring and a waste of time for me. It's a shame, because it does work really well for "connecting" with people (in the shallowest sense of the word).
It allowed you to define different views and audiences for your profile from your friend list.
I loved it, though building the lists was awful awful.
Now its even harder to edit the lists, and they hidden three layers deep and you can only view them on the web browser.
They should bring them back.