It's also misleading. If you want something more like a blog, then use notes instead of posts. The notes editing interface is actually better than most blog platforms, and IMO the results look just as pretty too. Then your notes appear in your timeline, searchable (within Facebook), with comments, etc. Is it everything an "open web" activist could want? No, but it's sure not just plain text.
BTW, I can't help but shake my head at people (like Gruber) who say Facebook is evil but also think absolutely everything should be searchable and monetizable by Google. That's just not logically consistent.