Have you seen the new MSN Spaces?

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Microsoft and MSN have now thrown their hat into the ring for social networking. Trying to capitalize upon the popularity of sites like facebook, myspace, and digg which are social networking sites that have been around for a while. Microsoft has a way of waiting in the weeds to see how things go with new concepts and site types, then they step in and do it "The Microsoft way" after they have already proven their popularity and usability. Microsoft of all of the computer corporations on the planet has got the biggest budget and supposedly the biggest brains so how come they only hop on the bandwagon after the fact?