I agree with the assessment – and have talked myself about in the past – that Facebook doesn’t give you a business model. And if your only business model is advertising, then maybe you have to worry.

But as you said yourself on TechDirt’s insight community, it makes sense for “some” applications, just like it doesn’t make sense for others. Quite simply, Facebook doesn’t give you a business model – it gives you a bootstrapped audience and a set of social connections. If you can’t make money off that audience, you’re right – you shouldn’t bother building a Facebook app.

Of course, it also speaks to why an audience on Facebook is less valuable than your “own” audience, because you don’t OWN those relationships.