Did Apple Just Kill MySpace?

From AppleInsider:

The next version of iTunes, available today, includes Ping, a social music discovery tool that allows users to follow friends and artists, helping customers to discover and share new music.

“It’s sort of like Facebook and Twitter meet iTunes,” Apple Chief Executive Steve Jobs said of the entirely new Ping service. He described it as a social network all about music, built in to iTunes.

The product is based on discovery, allowing users to see what their friends are listening to and what concerts they’re going to.

Users can choose to “follow” artists, as well as their friends, and iTunes will populate a customized top 10 list that represents what their friends are downloading. Users can also see concerts that are coming near them, and inform their friends that they will be attending.

If artists can connect with fans on iTunes, is there really a need for MySpace, a place for music?