It should really be called tracking instead of frictionless sharing. It's not the user acting, it's the sites observing/tracking the user (with consent).
Haha you're right. Maybe we should request they change the name. Imagine Zuckerberg at F8 giving a keynote on the this great new feature... "It's called Frictionless Tracking! It makes it really easy for us to collect all kinda of personal information on you which we'll keep in a file and later use to try to sell you things. The best part? We tell all your friends about everything you do! Everything from the LOLCat you just commented on to the article about genital warts you were reading on WebMD about an hour ago. How awesome is that?!"
I'm not making fun of you, I just thought it'd be funny to imagine what it would be like if companies like Facebook were just brutally honest like that.
Which, given how much they will then know about you, will introduce social pressures. "You like X, Y, and Z, why haven't you bought widget A or seen movie B yet? I thought we were friendsters!"