I think this thread was actually meant to be about the current generation, which has been labeled the 'myspace generation' rather than to bitch about myspace itself, because that's like shooting fish in a barrel. Or shooting Paris Hilton.
That said, in an attempt to meld those two topics, the one great acheivement of this generation is the
myspace worm.
This guy called Samy put a javascript in his page that caused anyone to visit him to register him as a friend and then put the script into their own pages so that it would flow on to anyone who visited them. In 24 hours he went from 73 to 1 million friends.