Layered information versus switch-style information

More we use web services, more we get familiar with personal information issue.

Normally, most of these social-driven sites provide privacy options, like your real name or some other sensitive informations would be set to be hidden, only for friends or exposed to public.
Some might have an additional group option, but you still have to pick one from these three or four choices.

But I have a different thought.
Why an item, like my name, only have one three-states switch?
#1 {field name: my name, field setting: private}
you: O
friends: X
public: X

#2 {field name: my name, field setting: only friends}
you: O
friends: O
public: X

#3 {field name: my name, field setting: public}
you: O
friends: O
public: O

In any actual situation, we use “layered information”(below) more than “switch-style information”(above).
{field name: boss’s name}
public: BOSS
colleagues: THAT one
friends: the jerk
close partner: that NERD!
you: XXX(never mention that name!)

{field name: partner’s name}
public: her/his formal name
her/him: sweetie
close friend: my cutie
you: the bastard...

It seems to be a horrible complexity on possible combination of the layered informations.
Maybe we should pay more attention to the visualization(output) and user interface(input) for this kind of information representation.