I agree that the logo is very nice. But unless it is to be accompanied by a complete redesign of the entire site and a general purging of junk ads, spammers, etc it won't be enough.

MySpace's reputation and image is too tarnished for it to become hip again. The new logo looks like the logo of a cool new startup that would attract the hipsters looking for a space to make their own, but unfortunately MySpace isn't new, and it isn't considered cool either.

Clever to the point of uselessness. It might get you points in a design class, but in the real world, it's a stupid move. Way to help further erase your already disappearing brand.

It feels a lot like they're grasping at straws — last ditch effort to make themselves "cool" again. But if the alternative is dying, probably the best thing they could have done to create buzz.

Doesn't it now seem like the Gap logo change was an intentional ploy to get attention for a drawn-out logo-change process, and thus was really clever?