If anything works there’s two things that will happen. The first is that people will complain about it (we love to do that – help something rise to huge success and then begin the tearing down process of the brand or person) and second, competition will eventually pop up.
Competition for Facebook, because it’s privacy concerns with some users, has popped up in the from of Diaspora. I found an article, though, that makes some strong points on why the average person will find Diaspora more difficult to use than Facebook which will mean a more niche market for this new social networking site. Read it here.