A product manager tackles this question by asking, "What problem does it solve?"
The answer, I believe, is actually quite simple. MySpace solves the problem of keeping up with friends and family. More specifically, if you have a lot of friends and family, you most likely:
- Tend to forget about some of them unless you see them on a regular basis.
- Don't know what's happening in their lives without contacting them frequently.
- Don't feel "close" to them without seeing their faces when communicating with them.
If you haven't used MySpace, or don't have a lot of friends and family who use it, you probably don't recognize or appreciate the extent of this problem and its facets. The problem is dormant; users only become aware of it after they've fully experienced a new way of doing things.