Absolutely.
Our company takes the stance that marketing and HR "require" access to social networking sites. I believe even that is a stretch. I keep hearing how it's a great "recruiting" tool. Have we hired anyone from FB? Not to my knowledge.
How often do you guys follow content streams from commercial entities? Maybe special interest stuff, but are you a "fan" of Pepsi Co? Come on, it's more a blatant attempt to be hip.. which is more sad than trendy.