MySpace is shit to use and customise. And even when you do it's FUCKING UGLY still.
The only reason it's so huge is the music section. So the way I see it only three companies can hope to topple it from its monopoly position:
MS have already proved they like Hotmail/MSN to look ugly as sin.
Google don't actually ever seem to move anything out of Beta.
So our only hope is for Apple to create some sort of iTunes-based expansion that pretty much does everything MySpace Music does...but is easy to use and will look good...and won't be owned by Murdoch and Tom the grinning gimp. Okay, so Steve Jobs isn't much of an improvement but I'll take as some sort.
Truly, though, I am actually scared at how entrenched MySpace has become...