Uploading music on the old version of MySpace was a chore. You could only put up a finite number of tracks, and it just felt clunky.
With the new MySpace, it's as easy as dragging-and-dropping. Tracks are limited to 10MB file size, and the ability to tag and add cover art is simple. As you can see, you get to see stats on each individual track, seeing how many plays, "connects," comments, and shares each track received--features that at least put MySpace in the ballpark of the newly redesigned SoundCloud.
While you have the ability to put songs on your profile page, as well as share them directly from the music page, there is currently no option to add "buy" links to the particular tracks, which might deter some artists from utilizing MySpace as their main hub for fans. Having people hear it is cool, but one of the keys with a SoundCloud is an easy link to purchase from wherever the music is available, or a Bandcamp, which has everything in one spot.