I typically like to think of "my space" as that area others shouldn't intrude unless invited or having plied me with copious amounts of alcohol. Frankly, that concept is preferable to what myspace.com has to offer.
To some extent I get why it's so attractive...to 12-year-olds. But what the hell is the deal with 20/30-somethings literally living on the thing. I signed up just because I had to if I wanted to learn anything about it. But I've gotta say that people I know who are on it with the regularity they are should be embarrassed with themselves. I've witnessed people who talk in person on a daily basis post comments on one another's' profiles because...because...well, I have no idea why!
Again, if you're 12, Myspace is probably just keen. If you're 25, grow up. Leave Myspace to the perverts and the dumbass pre-teens with parents lacking in parenting skills. If you're so deprived of a personality in person, trust me, the nifty picture, obnoxious background, annoying song and cryptic comments from your friends ain't doing you any favors.
And if you're a business with a Myspace page, declare bankruptcy today.