This article is from last August, as you showed and documents the (then) coming Timeline.
I happen to like the Timeline. It looks like it's designed to get you to "scrapbook" all the big events in your life with pictures, etc. If you have your privacy to set to Friends Only and not Friends of Friends, you should be OK.
I have to laugh at people who don't want to share on a social networking site. What are you doing on Facebook in the first place if you don't want to interact?
"Now, more than ever, the illusions of division threaten our very existence. We all know the truth: more connects us than separates us. But in times of crisis the wise build bridges, while the foolish build barriers. We must find a way to look after one another as if we were one single tribe.” -King T'Challa, Black Panther
The truth is incontrovertible. Malice may attack it. ignorance may deride it, but in the end, there it is. ~Winston Churchill