Michael Wolff: MySpace Users Are Doomed, Poor

Michael Wolff, author of The Man Who Owns the News: Inside the Secret World of Rupert Murdoch, released this morning, sat down with BusinessWeek’s Jon FIne and provided a not so glamorous take on MySpace.
On MySpace’s $25 billion+ valuation: “It doesn’t make any difference. That’s gonna go down. What they are looking at is the distinct possibility that it can go down to nothing.”
On MySpace users being tied to the site’s community: “That’s exactly what they said about AOL. Your email was there, because your friends were there. I mean, AOL operated actually as the community of its day… What they saw at the time was that [users] were absolutely wedded to AOL. That was Time Warner’s bet on that.”
On MySpace users: “If you’re on MySpace now, you’re a [expletive] cretin. And you’re not only a [expletive] cretin, but you’re poor. Nobody who has beyond an 8th grade level of education is on MySpace. It is for backwards people.”

Do you agree with Michael’s assessment of MySpace?