Is it possible to pirate Facebook Apps?

I was thinking, since the Facebook API is publicly available, is it possible to reverse engineer it?

For example, if you run a smaller network like Multiply, is it possible to create a kind of wrapper API that allows Facebook Applications to run on Multiply.com?

This came about after thinking about how you can run “linux” on Windows (co-linux) and Windows Apps on Mac and run old games using emulator, why can’t a competing social network develop a reversed engineered API?

That way application devs can expand the market share of their apps quickly.

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