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A lot of very influential people are sounding off that it’s not the number of friends you have on social networks that matter, but rather the quality of the relationships. For instance, many people would rather have 100 close knit contacts on LinkedIn than 600 “lose contacts” or people who you might not even know. Facebook considers users with 5,000 friends (the max you can have) “whales.” Basically having a lot of friends on Facebook, contacts on LinkedIn or followers on Twitter is giving people a bad name. There was even a recent study done that compared the number of friends and wall posts you have on Facebook to being more or less narcissistic.
Follow this link to a great discussion and analysis