Not quite comparable. During MySpace's peak, it was a wholly-owned subsidiary of NewsCorp. Reportedly its stumbles were due (at least in part) to internal disagreement over strategic direction between MySpace and their parent company. Sort of like if Instagram imploded due to disagreement with Meta, rather than the entirety of Meta dying.
Doesn't that prove their point? MySpace has been in a slow death that has taken decades, but even now it still isn't completely dead. Considering Meta is so much bigger than MySpace was at its peak, I don't see why we would expect the death of Meta to be sudden.
Myspace was not such a development powerhouse, was it?
For instance in the context of that question, did they issues framework widely adopted outside of MySpace?