All that it established, if you read between the lines, is that there is a clear market for hair products for women with curly hair, and that the companies that produce those products are looking at targeting those women to sell those products.
It does not address exactly what a social network would accomplish for the consumer beyond acting as a conduit for advertising. That's where the issue is.
If you go to the site, it's not actually a social network. I mean, it has what looks like an off the shelf forum attached, but basically it's a super targeted eHow with a really good affiliate marketing strategy.
Every website is a social network in its press release. Journalists will repeat those descriptions. Don't fight it, you'll lose your mind.
It does not address exactly what a social network would accomplish for the consumer beyond acting as a conduit for advertising. That's where the issue is.