No... there will always be room for both centralized and decentralized systems.  There are many use cases for centralized systems where no trust issues occur. 

And unfortunately there will always be people who do not care about trust issues.

As for Facebook I think they will fail for everyone else because they are giving people more and more reasons to care about trust issues (Cambridge Analytica, recent leaks about internal processes, etc) and frankly ran by a weird looking Alien.