As a 22 year old I grew up with social networks, and it was also the time when digital cameras where first becoming more prevalent, so there are photos I have of me online stretching back to when I was 14. Every now and then I enjoy looking back on those photos. It's not like my profile is filled with photos of me. It's photos of me with other people. Friends I don't know anymore, ex-girlfriends, and people I still keep in touch with. The great thing about Facebook is that I took probably less than 5% of these photos. Most were taken by friends and I was tagged in them. I think that's the most valuable thing about Facebook for me. I always feel awkward taking photos (like I'm disturbing people or annoying them). The fact that other people I'm with can take the photos and tag me in them and share the album is invaluable. Sure there are always photos that make you cringe but I don't think age has anything to do with it. I'm sure that when I'm 40 and look back at pictures of me in my late 20s/early 30s there will be pictures that make me cringe too.
Maybe it's a generational thing then; digitally native millennials vs. gen-y or something. Either way, a decade makes a big difference in how you use the technology around you.