When spending a shitload of money to redesign and revamp your site, change your identity and refocus your business model; you really need to pay attention to how people use it.
The old myspace site was slow, cluttered, full of conflicting navigation, full of irritating ads. The new myspace site is slow, cluttered, full of conflicting navigation, full of irritating videos and ads.
They have clearly learnt nothing at News Corp. Even at its worst, Facebook lets you see everything you want in one go, at minimal fuss. Myspace wants you to drag and search around before you find anything.
It's not like they didn't ask. I did the longest questionnaire in history a few months back describing everything that was wrong, and what we got was the same site but looking a little nicer.
Focusing on music is a smart move for myspace, sadly they seem to have got everything else wrong.