in my personal opinion, SpaceHey needs essentially 3 ingredients and its golden;
1.) an inbuilt mp3/music player and music tab/ it may be hard to implement and would use up storage space ofc but some type of music player you can put on your profile would be a huge step toward OG myspace
2.) an events tab; myspace flourished because of the way u could find local events 2 go to and as a musician but also rave organiser itd be great to have somewhere more visible to post my events besides instagram
3.) again a tough one to crack due to server hosting costs but a way to easily post ur own photos would be great coz u can then just keep people in the loop
as for popularity and mainstream recognition; i think spacehey would be in a good place if it was able to be popular with alternative people on a wider scale, maybe a similar or slightly less popularity level to tumblr, so there can be a thriving and self fufilling community, especially when mixed with the events tab
a return to slower paced social media and an emphasis on customisation is what we need and although theres people here being like "spacehey will never get mainstream" thats not what the point of the site is IMO, theres no need for instagram/tiktok levels of popularity
tl;dr spacehey should be to the hot topic of the social media world