Truthfully most do--it's just that we generally hear about the vast majority who live their regular lives just fine and use Facebook just fine, given that there's really nothing to hear about them.You can, but few do.
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It's still there, along with "Most Recent" and various other types of filters for the News Feed--seems like when you pull down to refresh the newsfeed you will see which one you are using (like simply "News Feed" which seems more like what top stories used to be) and you can tap on it and then select various others that are listed in the list that appears, with even more that are accessible by tapping on the down arrow at the bottom of that list.What the heck happened to my "Close Friends" list? Why did they bother making me make such a list, only to disable it in the next version?
Now, if they could also retain your selection until you changed it (instead of often defaulting back to the generic "News Feed" option), that would make it that much better.