I think the answer in a post-FB/Twitter decentralized/distributed social network world is to have transient, easily spun-up and spun-down social networks that you could think of as places.
So, for work friends, I'd make (or join) a social network called WorkBuddies, and I'd have a different one for each context. But you'd take your identity with you, and you'd own your own canonical social graph independent of the people in each network.
I think they're doing something functionally similar, which is basically contact list management into groups. They call it "Aspects" iirc.
I think the problem with that is that it creates weirdly asynchronous or non-cohesive groups. I.e. if I have a list called work friends, it's not necessarily the same as your list called work friends, and the stuff I share to my list doesn't go to the same set of people.
In the "Places" paradigm, the groups would be more canonical and autonomous and transparent to the people in the group.
But my work friends aren't your work friends. Our friend circles might overlap but they aren't the exact same. So why should you be posting to my work friends group? Don't get me wrong - I think you have an interesting concept here, I'm just trying to understand it better. (I wrote Friendika, which is kind of like Diaspora but a bit more capable - I could probably make something like this happen.).
Well, if we don't work together, we wouldn't share a work friends group.
It's true that a places metaphor is a bit less granular, but I think it makes it easier to understand how things are being shared than a bunch of one to many connections that overlap to varying degrees.
Also, there's no reason you couldn't have both, since the places metaphor is really in practice just a subset of everyone having individual group lists.
So, for work friends, I'd make (or join) a social network called WorkBuddies, and I'd have a different one for each context. But you'd take your identity with you, and you'd own your own canonical social graph independent of the people in each network.