That comparison with MySpace is not relevant as Flikr can live alongside many other photo sharing websites, as it doesn't matter where your friends are, they can see your pictures. Whereas the Facebook, MySpace situation was determined by who had the critical mass first. If most of your friends were on another network, you'd need to join in order to contact them. So there could be only one. Not a meritocracy, but a land grab.
Sure, Flikr try to be a social network too. But then they are up against Facebook.