The problem with your narrow vision is that you're assuming Facebook as a publicly traded company is going to remain, well, Facebook. Not likely when you've suddenly got several billion dollars at your disposal.
Look to eBay as an example. They went out and purchased Paypal for next to nothing. That turned out to be quite a cash cow, didn't it?
Facebook might not become google, but the likelihood of the share price dropping to $1 is next to nothing. If it was a real threat, investment banks wouldn't have been fighting hand-over-fist to get a piece of the action.
P.S. I'm not suggesting anyone purchase longterm today at inflated prices. Too risky. Today is about daytrading, in my opinion.