MySpace, Sony BMG, Universal and Warner do something monumental/impenetrable

I’ve got a brain, but sometimes press releases make me doubt the fact. I’ve had two in the last half-hour from different people, about the same thing - MySpace joining forces with Sony BMG, Universal and Warner to create a new company, MySpace Music. All highly groundbreaking, no doubt. What does it mean in practical terms, I wonder? Well, it means:

The product vision for MySpace Music is to build on the existing traffic, credibility, and popularity of the MySpace Music platform (http://www.music.myspace.com) by creating a fully integrated 360 degree global music solution.
Cool! I think. What else?

MySpace Music will feature the network’s first integrated e-commerce solution and evolve the user’s ability to discover, share, and socialize by adding commerce and music management tools.
I think I just became ever so slightly inappropriately aroused. Got any more for me?
The new offering will seamlessly transform the MySpace Music experience into a groundbreaking mix of community, commerce, and discovery. The product will roll iteratively in the coming months.
Iteratively?? That’s awesome! Don’t stop now!
The personalized music management product will allow users to control their entire MySpace Music experience directly from their user page by creating playlists and having access to enhanced purchase opportunities and search functionality.

*Blinks*
Artists will be able to evolve their MySpace experience beyond the promotional by now monetizing their full repository of content with a 360 degree solution including not only the sale of digital content, but also physical goods such as t-shirts and concert tickets.
Gee whizz, this stuff makes me want to chew some khat and dance naked in a car park. I’ll probably wait until sundown.
For a real, grown-up analysis of this quite-important-actually announcement, go here.