I agree that some people go overboard with the social networking sites, but like our society, everything is very fast paced - happen now kind of attitude.
I think with the limited time and increased activity in the average persons life, it is nice to have somewhere to share photos or information with friends/family without having to actively email to every person.
I use myspace a few times a week to check out friends and family new pictures. Seems to work ok, and I hardly thing it is effecting the way I “function in the real world.” Like anything, there are extremists in ANY situation, so don’t get it twisted and let those addicts distort your view.