TheSixtyOne? Lala? Bandcamp? All more elegant and more precise tools than MySpace ever was.
For some reason -- which I still don't really understand -- a lot of people got lured into believing that Myspace was a replacement for running a legitimate website under your own domain. And it's not. Really, truly not. But a lot of bands thought that, as long as they were on Myspace, they didn't need to do anything else (or in some case could even take their existing sites down).
I'm glad that people are finally figuring out that this was a bad idea. There's no problem with maintaining a presence on Myspace, Facebook, etc., if you're a band (in fact I think it's a really good idea), but it shouldn't be your only online presence. It's a lot safer to use those free services as traffic-drivers to your own domain than to depend on them exclusively.
If I'm a band, I want two things: I want an easy way to distribute music, and I want networking. My point was that MySpace offered a bastardized version of each. Facebook offers networking better than anything else; if I'm looking for follower count and nothing else, Facebook's got everything beat. Its music system isn't terrible, but it's much easier to use Bandcamp to attract users. That means that you've got everything you need, unless you're deluded into thinking that people will randomly stumble upon you online and that Facebook doesn't work well for that; in that case, The Sixty One is the perfect solution. So it takes a little set-up, but you end up with a much stronger solution than you had with MySpace.
Edit-- The Sixty One is amazing. What a beautiful UI, it works likes a charm. I am gonna join and recommend the hell out of it.
Edit,Edit-- It let me sign up without stopping the song I was playing or losing track of the songs I had already listened to. Very pro, this is how you do it right.
Watch Facebook pages eventually add music and other content. Watch some light themeing appear for your personal page.
What Facebook is doing right is keeping people separated from things like bands and companies and going real slow on development and keeping control while they expand their userbase.