Both halves of that comment are incorrect. It wasn’t originally for posting music, it was an improvement of the concept of social networking that started as an alternative to Friendster.

The music stuff didn’t come until years later, and they never had anything you could consider a success in that department, especially after they deleted every song artists had previously posted to the site.

Also, just going in the website right now, that’s not the bands posting those articles. That’s not even people posting news on MySpace. It is literally just aggregating music news from other websites.