Facebook found a way to turn your likes and profile data into something a bit more useful - and a bit more creepy - with their new Graph Search. It's great for finding new things (apps, restaurants, movies, and more) based on what your friends like, and I can see a big future for that. But it's far from smart (you'll end up pulling your hair out trying to find a way to search for all of your friends' Instagram pictures), and veers enough to the creepy side to make it seem surprising that Facebook didn't limit some types of searches.
That Facebook can put all of this data together is no surprise, especially for anyone who's ever tried to buy an ad on Facebook, since you've been able to target ads using this exact same data for quite some time now. It's not all bad, per se, but it's yet another reminder that you should treat everything you put on Facebook as public, no matter what your privacy settings are. If you're fine with everyone on earth seeing everything you've liked and put in your profile, then you should be fine.