How bad are web user interfaces realy?

It seams like the web usability is somehow forgotten by the big companies nowdays. Reading recent articles about how Facebook is hiding all privacy setting in different places preventing their users to lock up their accounts made me think if the web usability got buried by the profit. Who has the time (a precious resource) and will to manage their personal information privacy (information about a person stored on the web and looked after by someone else – Facebook in this example) if all possible privacy concerning settings are in such weird places? And we can’t never be certain that we found all settings! Facebook has an advantage that their service (social networking) outweighs privacy concerns for so many people. How is that people just don’t care that much about their own privacy?

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PS: If someone is interested, there’s a book on web usability written by Nielsen