@LiamLC + bobbylove321 - I think you guys are forgetting the most important aspect of social networks the people. It's not only about you shifting to another social network, it's about all your friends doing the same, and all their friends so on so forth.
That's where Facebook sets about its complete market dominance with over 500 million active members.
On topic, I think it looks crappy, however I'd like to think that Facebook have done sufficient amounts of research and tracking before implementing the change. I doubt at such a large userbase and market cap that they're really stupid enough to change a feature just on a simple thought.