Why is it all about Facebook these days? What happened to MySpace?

I know MySpace still exists, but I never seem to hear about it any more. People seem to be only talking about Facebook. What happened, prestige or marketing-wise to MySpace? Is Facebook just doing a better job? Is the website and interface better? If so, how? Or am I wrong in my perception here. But I sure feel like I only hear about FB and never MySpace any more.