I think programs like Myspace and its spin offs (my own thingie is on Bebo) are great for keeping in touch.
As life progresses we are often times pulled away from people who were once important to us, but with sites like these it's easier to keep them in our lives.
They are also a great tool for raising awareness of small bands, to give them a chance to build themselves a community and to communicate with their fans.
Myspace also gives an outlet for the emotional crowd, a chance to communicate with people who see the world in similar colours. There are plenty of people who (for whatever reason) cannot relate to the people around them. This might be because their interest is obscure (I have a friend fascinated with particular type of posable dolls), or likely to have them judged for it (again we can bring the emo example here), or any number of reasons.
Remember folks, emo kids are people too, and if things like Myspace let them become better ones, I am all for it.