We learn both of these from early childhood. We all at some point go through the realisation that our best friend may not always see us as their best friend and vice versa. Not forcing a two-way connection or nothing is an essential part of how humans actually relate.
Secondly, allowing easier more precise control of who we share what with. I don't want to share pictures of my son with everyone I have some sort of relationship with. I want to share them with at most family and maybe a few others. I don't want to share pictures of a night out with work colleagues. And so on. Facebook basically forces you to reduce yourself to the lowest common denominator of what you're prepared to share with everyone unless you're very careful with permissions or make socially awkward distinctions about who you accept as friends.
And then, when you've reduced yourself to that, it forces your "friends" to wade through a bunch of stuff that you may well know a lot of them will have no interest in, as you point out.
Facebook is basically trying to force human relationships to change shape to suit their ad targeting, and eventually someone will figure out how to leverage that weakness into dethroning them.