I wouldn't say they nailed it perfectly, as the UX was stupidly confusing to use.
Also I'm pretty sure you can create lists of your friends and share certain posts or images with "everybody but X, Y, and Z" or "X and Z only" where [XYZ] are either lists or specific friends.
While this is a viable “fix” it once was buried 2 or 3 levels deep in your settings and not modifiable on the fly, if I recall correctly.
Even if it had been implemented in its current form 5 years ago, filtering post audiences still seems to involve a level of added complexity not readily tractable for your run of the mill user.
Also I'm pretty sure you can create lists of your friends and share certain posts or images with "everybody but X, Y, and Z" or "X and Z only" where [XYZ] are either lists or specific friends.