Who does Chris DeWolfe, CEO of MySpace.com, think he is? Michael Arrington of TechCrunch? Because he certainly doesn’t think he’s the CEO of MySpace. If he did, he wouldn’t have come up with the crazy notion that MySpace could compete in what is essentially Apple’s market of portable media players. Seriously, a MySpace-branded portable media player? Are you nuts?

According to Reuters, DeWolfe is only thinking about it. Let’s hope this idea remains a thought never to be realized, lest it joins the ranks of the Zune all the way at the bottom. If Microsoft can’t compete, what makes MySpace think it can? Clearly, it’s the Kool-Aid.

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Did it really take this long for the guys at Mule Design to think of a snarky t-shirt involving Web 2.0? I hope not. For $20, this Kool-Aid Man shirt will be in heavy rotation until the next ‘net bubble bursts. Just ask Jerry Yang or Michael Arrington.

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