By tangibly and transparently showing the power of aggregating all our online activity in an easily, browsable public place, Facebook's Timeline may sensitize casual users to impact of their use of such services.
Do you want to funnel in the parts of your life it hasn't appropriated already? Do you want it to transcribe all the songs you'll listen to, the restaurants you'll hate, the "illnesses you'll overcome" (an actual, bizarre event choice)? If the notion of the digitized self pleases you, Facebook is your best new altar.
If you find it depressing, demeaning, and superficial, then frankly, you should turn it off now. Zuckerberg wants Facebook to devour and digest the world, using your life events as its nutrients, the existential feces left behind fertilizing a high resolution, pristine Timeline. His appetite's only going to grow—the question is if you'll enjoy dining with him.
They like it but it reminds me a lot of Hannibal Lechter dining on Clarisse's colleague's brain.