Jeff Stibel makes the argument that networks, just like human brains, are not capable of using networks that are too large. And that it is normal for networks to shrink as time goes by.
We don't know yet what critical mass is for a social network. We have seen many implode before — remember Classmates.com, Friendster, MySpace?
More at Is Facebook Too Big to Survive? – Jeff Stibel – Harvard Business …