The problem I see with Bandcamp is that there's no discovery portion of it. If you already know of an artist, it's great, but you can't stumble across some new artist like you can on MySpace.
Also, there is something to be said for doing a single thing and doing it well. Managed hosting of musicians websites and nothing else.
If anything this is the year of overshoot, Google wants to be Facebook, Facebook wants to be Twitter (still), the Sixty One decided to be more like a glossy magazine.
Everyone wants to be your single source, conveniently forgetting that this is the internet we are talking about and not the cable or phone company.