A bigger question is why Last.fm did this, and why they don't do it again now that they're independent. I've been on Last.fm. since 2005 at least.
People don't blog on their personal sites any more, blog comments don't really exist any more, MySpace / Tumblr like sites are not popular any more and people don't share everything private on social media any more as everyone realized that the internet is not always a friendly place and there's enough public cases where this fired back.
The same also applies to the platform itself, opening yourself up to more user contributed data is often a real headache as you need to moderate it properly and that needs resources too. Ask Meta's moderator team how much fun they are having.