I don't really like it too much. I've never used Myspace, and I stay away from social network sites.
The design itself isn't too bad though. It's modern, slightly minimalistic and smooth looking. It's also very cliche, so nah.

I never used Myspace myself either (had one, never used it, I got it right when Facebook took over which I had before MySpace so I was kind of devolving that way

). I personally think it looks very streamlined, minimal, and sleek. Definitely something pretty to be using on a daily basis.
However, I don't think its features will be to die for. It of course allows you to post statuses, photos, add friends, "follow" people, etc. Kind of a mix of Twitter and Facebook. But their main feature is music. Myspace was originally built around music and allowed people to post/record their own, make playlists, follow artists, etc. This is where it doesn't make a lot of sense. Not everyone is so musically inclined so as to be posting their music on a regular basis. And since so many people these days decide that their musical taste is top bar, Myspace will simply devolve into a site for listening to your music -- which iTunes and Google Play already do so quite elegantly. So, I am not sure myself if it will get back on top, or even get close. But basing the entire site around music and fangirling your favorite celebrities doesn't seem like the smartest idea -- that's what they did with the old Myspace and look where they got --. The advertisemant says they are "sticking to their roots" and it's those roots that made the network crumble!