The Electronic Frontier Foundation didn't like it. Danny Sullivan didn't like it. And neither did Gawker. Did I forget the mention the non-stoppable guys at the Onion?

1. Facebook exists for making money out of our relationships.
Reminding us that Facebook is a ruthllessly for-profit organization which needs to pay its 1400+ employees handsomely, the Onion says,

Entire Facebook Staff Laughs As Man Tightens Privacy Settings

2. The new Facebook settings are still complex.
Danny Sullivan, who is one of reporters/bloggers who have actually tested the new settings, as opposed to the millions of news re-writers masquerading as journalists, says ,

...it’s a far cry from the simplified structure some wanted and that Facebook claims to have delivered. To fully understand how Facebook may be sharing your information, you have to drill-down into three of the four major areas.

3. EFF warsn Facebook users aganist choosing Facebook's recommended privacy control setting.

EFF still has concerns about third-party access to individual profile information though.

4. Facebook still acts like a God/Puppetmaster.
Gawker is pissed off with the 'I am so superor, I know know everything about your provacy needs' attitudes of a profit-making compoany that has so far taken $900 million in funding.

Here is the part you all should remember about Facebook's real nature:

Facebook automatically took away privacies, but isn't automatically giving them back: When Facebook took your friends list public, it didn't ask for permission. If you want to make it private again, you have to go out of your way to do so.