Earlier quoted context omitted.
How many users does MySpace "run" with, again?
more than all yc projects combined ever(ballpark anyone?), 3x facebook etc etc but yeah it limps along...
Note that I am not saying that PHP > .NET -- obviously on sites of this large scale, as has already been noted in the post's comments, using any technology "out of the box" is looking for trouble. What I mean to imply, however, is that perhaps for sites this big, .NET is the wrong thing. And, as the parent comment points, out, IIS certainly isn't helping things, though I don't think Apache would necessarily be a magic bullet. Craigslist, which does many megabytes of data transfer per minute, is considering switching to Lighttpd because Apache too heavyweight.
P.S. Sorry about the links -- I couldn't figure out how to link a text string to a URL. Can someone enlighten me?