I really don't get it, why the dying social networks like Myspace, Friendster, StudieVZ et.al. are not embracing the distributed social protocols like crazy.

OAuth, Salmon, PubSubHubbub, FOAF, ... everything is right there.

Standardized identity as a service with a distributed client/server approach like email. Companies can offer their own service and customers sign up to their chosen provider.

Users are supplied with controls to determine what components of their identity third parties can access. A "work" profile, a "friend profile" etc.

Third parties integrate the standarized identity profiles but have no control over what specific data they can access.

Why does everything have to be a business opportunity? Prioritizing monetary value over other kinds of value is how we got into this mess in the first place.