My slice of Facebook is changing in ways that are interesting, but not necessarily profitable for Facebook.
Consider this "Likes" list from the Minneapolis Park and Recreation Board's Facebook Page:
Many of the items on this page are of interest to me. Likewise for the items on the St. Paul pages. Not to mention the Pages I maintain for Minnesota Special Hockey Eagles and the Minnesota Inline Skate Club.
I "liked" quite a few of these Minneapolis Parks related pages. When I browse my list of Likes (painful term), many, if not most, are local organizations and businesses rather than people. These organizations used to try to reach me through newspapers or the US Mail, now I read them on Facebook.
I don't seem game invitations any more (mercifully); they're tucked away on the right upper page. Periodically I decline them all.
I don't see that much activity from friends and family. Some are quite active (thanks MC!) but most don't post at all. Many stopped using Facebook.
So my slice of Facebook isn't about games or celebrities (never was). It's still a bit about friends and family. Most of all though, it's about organizations and businesses I want to hear from, including local government.
How does Facebook make any money from this? They're going to have to start charging for Pages at some point ...