SOFI - this isn't just another social network. It has a real-time, in built recording studio with NO LATENCY. That's an amazing feat, which is why this technology has investors from some of the biggest businessmen in the world. The technology is created by people from Propellerheads, who make the "Reason" music software. The social networking factor is second to the music and studio factor. Plus, it aint free, so it won't get over-run with kids and idiots, only serious artists. If songs created via the site become popular on the site via the hits, votings and contests, opportunities will open up for those artists.
So your rant was misguided.