Absolutely true. From my own expirience, smart people just don't click on advertising and most of them have some kind of an ad blocking software installed. Myspace crowd is a lot more diverse than Facebook's so Myspace performs a lot better in CPM. Monetizing smart crowd that's averse to advertising is one of the toughest problems any social site will face. Another one is monetizing very young crowd (13-17 year olds)... they just don't have much disposable income.... that's Digg's problem.
