"Why am I not on Myspace? Because, I left the company in early 2009, and like most of you, I don't like using it anymore.. not a fan of what the new folks have done with Myspace."
Executive Meddling: As if losing people to Facebook wasn't bad enough, they had to dig themselves into a deeper ditch by ignoring all the users who were still on board with their Re Tool. Basically, they gambled away their longtime users in hopes of attracting more new ones, and lost hard.
News Corp bought it at the very peak of popularity and value. It's been a depreciating asset ever since.
By the look of things, the new owners are continuing with the same behavior, disregarding any longtime users still on the site.
Old Shame: Many twenty-somethings, even those who claim to hate the "new Myspace", are probably quietly thanking them for having deleted all of the old profiles in 2013, as otherwise, the site would have made for an embarrassing time capsule of their awkward teen years.