Good point, I hadn't thought of that.

Compared to what myspace already has it would be a drop in the bucket though.

I think myspace just needs to be seen as doing something (anything) and they need to prop up their rapidly failing numbers. Since mid 2008 they've halved in traffic, a trend that they'll have to stop somehow.

At least this gives them a way to get the myspace.com domain in the press in a positive way.

Well, Myspace has its own set of artists with a loose structure. iLike, on the other hand, has a comprehensive list of musicians that it builds (rather than having individual musicians add themselves), and it has a slew of information including track listings for albums, videos, and tour dates.