Facebook Venting

I have over 300 "friends" on Facebook but really only read some of the things people say (I'm in it for the games). It amazes me how many of them openly talk crap about each other as if no one will figure it out. Then there's the people that say things that's WAY TMI (I won't go into detail over that one). Now really, shouldn't there be some form of etiquette when you type into that box? I really don't want to know certain things and I'm sure there's lots of people that feel the same way or is everything just limitless now?