No, the problem is the same it was then, his refusal to listen to what fans of MySpace kept telling him and his stubbornness in pursuing a Facebook clone rather than MySpace’s original strengths. They wanted a new Facebook-esque image to the extent they remodeled MySpace at the cost of everyone who liked the old MySpace, ignoring the protests in their stubbornness. 

The problem was in fact their stubborn attempts TO rebrand MySpace. MySpace lost popularity because of their silly Profile 2.0 and 3.0 changes that were in affect attempts to replace MySpace with Facebook. Then when that failed, rather than just listen to people wanting them to revert to the original MySpace 1.0, they tried to rebrand as a music site. Obviously it failed because the products they wanted were inferior to the original MySpace which, had they listened to MySpace users and kept, would’ve resulted in sustained popularity. They never listened or tried that.