Myspace is dead, FB killed it 10x over.
Myspace was run on cheap gimmicks and randoms posting on your wall with tacky pictures and sparkly gifs. There was no substance or depth behind it.
At the time, FB was more mature and sensible, useful for school and the industry. You could connect to people in a realistic sense, and bind your true identity to it.
While all those qualities of FB remain today (and what keep it successful), it's been largely commercialized and open to the general public (used to be restricted to students and alumni, although you could lie), sort of losing its 'academic' background.
As for the music on people's pages, in my opinion, only gets tacky and annoying the older you get. Not everyone wants to hear a song when they go to your page, if they wanted to listen, they'd have it on their iTunes or YouTube. Sure, you'll impress your friends and people who share the same music taste. But for everyone else, might make them run away from your page.