Orkut has a lot of -ve's associated with it. But I will personally say no, orkut should not be taken down.
My reasons
1) I met a lot of school friends through orkut, whom I lost touch with and never thought I will meet so many of them again;
2) I can keep in constant touch with my college friends even though I have finished with my college now;
3) I waste less time on orkut then on yahoo messenger/IRC but can still keep in touch with friends;
4) I can talk to my friends on orkut so I can save a lot of my SMS cost and sometime calling cost cos I anyways incur same cost on my PC.
5) It let's you find your soulmate
. Though not for me.
Well if you keep the point that people waste lot of time over orkut, now that's not the fault of orkut. It's like saying stop practising relegion cos lots of fighting happens today in the name of relegion. So should we go ahead and destroy all out temples, churches and mosques?
And if you care about privacy, don't give all the details. Well even without orkut google does know a lot about you. Nice bunch of personal intimate emails send from/to gmail. Big fat database from the pages crawled from your site/blog and world wide web in general. History of purchases via froogle and lots more.
In fact, I want to consider making a project, just for the heck of it, on 'Privacy - In the Reign of Google'