Does MySpace have no space?

I remember when MySpace first appeared on the scene, as a musician it was a very exciting network of some very talented people (some have become and continue to be good friends) and it really opened my eyes and ears to many new exciting styles of music. I saw read this post called MySpace. Rip on gigaom.com about Rupert Murdoch’s $580 million MySpace purchase,  it reminded me that I hardly use MySpace now, and that most of the musicians that network online seem to use Facebook now or perhaps they are all playing gigs and concerts out in the real world, I hope so as this is a very important trend, it would seem that the best way to appreciate music is to hear it live, not from a downloaded Mp3.