No, this is not an open-source or "free" version of Facebook or anything like that.
http://youropenbook.org/This is like a search engine for Facebook updates. Type something in, like "black ops" or "such a nerd", and see if your faith in humanity holds up after seeing utter banality, like "I feel like reading a book, I'm such a nerd!" or "Wow, this guy is such a geek, because he wears glasses or something like that". Someone please mop up my brain.
