Social network is great when you have a lot of friends there. If not, there is no way to use that platform. I'm not sure many of your friends/colleagues/relatives will join that project.
That's for sure, I also think that simply launching a new social network is not enough to be considered a competitor to Facebook. I have seen many different social networking projects and many of them have the potential, their supporters and audience, but none of them I really see massive. I would like the new decentralized social network to become a replacement for Facebook, because I really do not like the fact that it collects a lot of personal information about me and my friends. If there is something really qualitative and convenient, then I will register and will use this social network, and on Facebook I will delete my page.