Facebook isn't designed to look good or even be usable. It's designed to make money.
I have some faith that Facebook's redesign isn't losing them a ton of money, or they would've reverted it. It's probably increasing the KPIs they're trying to target.
All these metrics are very short-term and the user dissatisfaction builds up over time. It makes sense for everyone involved (the short term is all that counts for investors and CEOs), but I personally can't wait to see Facebook eat itself.
I have some faith that Facebook's redesign isn't losing them a ton of money, or they would've reverted it. It's probably increasing the KPIs they're trying to target.