Don't get me wrong, I use social networks and media heavily. It's painfully obvious that all internet fads die eventually. Staying relevant is hard, because the internet has a serious attention disorder. It's a matter of time until the current concept of a social network will be replaced by the next myspace or facebook. Check out the article linked below for a well argued opinion.
So it's not that MySpace lost and Facebook won. It's that MySpace won first, and Facebook won next. They'll go down in the same order.
Douglas Rushkoff > via CNN