Oh yes it is. Me on Techradar:
Social networks also benefit from lock-in. I hate Facebook: I hate its horrible UI, its overly complex privacy settings, its photo albums, the algorithm that seems hell-bent on hiding important and interesting updates. Given the choice, I wouldn’t use it. Unfortunately I don’t have a choice, because for now everybody I know does use it. Cutting off Facebook would mean cutting them off.
Sooner or later, though, a strategy of “ha ha! We’re the only game in town!” will bite you in the backside.