What's up with Facebook?

I recently started an account on the popular Facebook site after much prompting from friends. Boy was I in for a surprise. This networking site is filled with classmates and friends from high school and college. It is safe to say that I enjoyed reestablishing some lost relationships. As for the other groups of people, not so much. It appears that people can only view your profile if you accept their "friend request". After that you don't hear from them. Not even a "thanks" or "how's everything going?" Now they have access to reading all of your information and spying on you when ever they choose. At this point, I am not sure if I will hold on to this account. We will have to see.