It really does look a lot more like Facebook than MySpace. You basically have a Facebook wall of all the people you follow, not some kind of customized site you can design from scratch, like the mess that was MySpace.
MySpace was created for and, early on, largely marketed to bands who wanted a simple page with a place to feature music. It only caught on with the public as a secondary.
Now, bands are pretty much the only people who still use the platform at all.
