Yes, i myself don't post every little thing on facebook, i try and post once a day so that the people on my friend's list know that nothing has happened to me, and ofcause, the only people on my friends list are people who i know personally
i see the problem in 2 views, the first is in an it security point of view, my friend who is a hacker has been able to hack facebook and access data on it on multiple occasions recently, now she's a genius when it comes to hacking but if she can do it then someone is bound to be able to do it later on, people put up photos of themselves, data such as their address, phone number, places where they have worked or are working at, if my friend wanted to, she could download all this information and use it. this coincides with my belief that nothing you put onto the internet is security and IT security is not about prevention but to waste the attackers time while they are tracked (would you waste 5 hours risking to be traced just to get an unimportant person's name?)
the second view is that alot of people who post personal data or meaningless posts are the people who are so self absorbed they think that anyone cares what they have to say, this of cause has been the problem with the internet at day 1 as every think they are a critic, reviewer or philosopher on forums and that what they say matters because they're the center of the universe (99% of the time, the other 1% is when someone is trying to talk someone out from doing something rash while in a state of depression), the fact is that social media has made this skyrocket with people friending random people (good example of this is in one of the episodes of NCIS:LA, can't remember which one, a more real life example, i have 5 ignored friend requests from people i don't know, 3 are from another country i have never visited as i have never left Australia) trying to build up their audience to read their mindless dribble, there is a difference between making new friends using social media and adding friends to have more attention