MySpace or Pathetic Losers

What is the point of MySpace? I'm a 28 year old married man with a 4 year old son. I have about 10 close friends not including my wife's friends. I barely have time to see or talk to them. I am certainly not the busiest guy I know and I rarely spend as much time with friends and family that I would like. So why in the hell do people join MySpace? From what I understand, it is just a website that you list your interests and other things about yourself that no one particularly cares about. Then random people that know your friend's-sister's-dog's-long lost uncle post things on your page. Then, voila, you have a new friend that you may say one thought to, and will never actually see in person. What is the point of this? Is it to say that you have umpteen online non-existent friends? While you are building hundreds of superficial relationships, I am trying to cut back on my real life friends because I don't have enough time for them.