Why is Facebook making a phone that nobody wants?

The original project was to work on both Apple and HTC phone software, but instead Facebook had decided to work with HTC. The main question is why would Facebook compete against Apple, google seems to already have the market wrapped up. People are not looking foward to the phone and the main reason would be, because the social networking site has too much information as is. If Facebook succeeds, we all benefit from more competition in the smartphone market. It's up to you.