I have not thought of facebook too separately from my group of friends, despite discussing it with hazy partygoers.
It seems the people I am friends with are sincere... I mostly briefly scroll and some things touch something in me. But a lot of the worth is from the narrative of it all. These are people I understand, I have ideas about, at least on some level, and I am seeing how those ideas and feelings in myself correlate to their passage through reality. It can be incredibly interesting, if you don't grossly allocate worth to the whole of it.
I don't really know how facebook could set up a quality-based system without a collective morale. I would really rather not like presonalized jurisprudence over the voice of my peers, which would be based on some customization? I admit annoyance at being occasionally set to the "Top Stories" sorting, which is oftentimes not so useful, although I understand the mentality.
It needn't be forced, though. The forum, for instance, is full of hundreds of threads, but instead of having each thread consist of one post before wilting away the format allows each to flower, and each time a drop of rain falls the thread rises above the foliage and gets its chance to bloom again. That is to say: threads expand and are bumped by activity, whereas facebook posts are doomed to die the death of time no matter how interesting.
This is not to say that your group of friends cannot 'hack' the format to your advantage, or that however it is that they are using it isn't interesting, but it is to say that my interesting friends don't, and the not-interesting ones use it poorly, at best.