Social networking is a key essential element and the very backbone of cryptocurrencies.
Bitcointalk is one effective means of supporting this human resource network but it is also one dimensional and bitcoin centric, while Facebook caters to the general population and is not operated in a true open-source democratic fashion.
I feel there is room for a social network that listens to its members, that encourages open communication, and evolves with the industry. Even though we are bare bones at the moment, the hosting is superior, and the code foundation is open and flexible. As the community grows it can decide how to best improve the site as it develops and matures.
On a side note: I have made this thread for beta testers to report and track site issues: https://www.coinsocial.net/forum/thread/3/official-coinsocial-beta-testing-thread/page_1/