Why is Facebook more popular than Myspace?

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It seems that more people are deleting their myspace and opting for facebook. I'm not really one for social networking sites, but is this just a fad or is there actually reasons why?
Myspace is just as private as facebook- you can choose privacy settings on both sites.
Both have options to find school and college friends, and music networking.
Both have applications and games.
But myspace has the added benefit of being able to customize the appearance of your profile and add music to your profile play list.
I've noticed that the 'older generations' seem to prefer facebook.
Hmm, I think it depends on the user than. I find myspace easier to use, facebook to me is like a maze There is an IM on myspace as well. But then Vignesh is right, you do have a relationship bar, which could be a "benefit" to some.
Thanks everyone. I think the major thing would be the simplicity. Some people don't want an ostentatious profile.