In the world of social networking on the internet, there seems to be a fair amount of duplication.
I was amused to see that a Twitter competitor was bought up by Google.
And iLike seems like a weaker version of Last-FM or Pandora. (Though I have to say that Pandora is an easier way to discover new music that is similar to other stuff I like.)
Competition is a good thing, but the weaker guys will eventually die off. (That's not always true. Microsoft still makes the Zune, for some reason.)