This book make some good points, and most valuable of all (in my opinion) is the way that Fukuyama revisits and critically assesses some assumptions about statehood, development, institutions &c which are so widely believed that we barely realise they're there.
However, there are parts of the book that get too bogged down in particular subjects, such as organisational theory. I'd suggest cutting half of that bit out, but then the book would be even slimmer (I read it in a single sitting, on a flight from Jo'burg to London).
This book does not provide easy answers to development and state-building, because there *are* no easy answers, but it certainly helps us ask better questions.