Re @monkbent's "The Facebook Reckoning"
The ads Facebook would place on traditional publishers' content wouldn't be native. Just better targeted display ads - but as annoying as their less evolved brethren.
On the other hand, Buzzfeed and Buzzfeed-like publishers could keep charging for creating native-advertisements - now to be shown on Facebook; possibly without sharing revenue with Facebook.
The first group will still go broke.
The second will make Facebook sour.
How can this even work?
Update: It sure would be fun if Facebook ended up charging a 'hosting' fee.
Update 2: Publishers will just be used as tools for Facebook to maximize engagement. Placing ads on their content will be icing on the cake. Adding insult to injury.