There actually may be a more realistic middle ground that many of us "older'uns" are seeking and that is, WE want to choose to whom we reveal ourselves. It is not necessarily to no one or to everyone, but rather people, institutions, whatever that we choose.
As this thread has pointed out, that type of determination may not be possible with Facebook and its similar ilk.
Privacy is an illusion. You haven't had it for decades. Facebook didn't make that happen; it just took the illusion away.