The game itself is not half bad, it's the people using it that ruin it.
I give you two examples:
My avatar is a male (off course) the first time I was on it a girl started to "dance" in front of my avatar and asked me if I spoke her language, I said that I understood it and we started talking, after a bit I left, and she added me on PSN, I accepted and she started sending me messages asking me what games I got and that, when I asked her what city she was from and I told her that I've been in her city with my wife she stopped replying and deleted me from her list of friends.
Its just sad that girls this day and age look for romance (or something like it) on line or on playstation home.
2nd example:
My wife wanted to try this playstation home, so I made her a female avatar, within one minute on being live on home an idiot came up and send us a private message with profanities written on it (on home you can't say profanities with the dialogue box, it will automatically be censored), at the same time another guy came up and just tried to pick our avatar up, that was ridiculous, I reported the first guy to PShome and I even told him I did, in which he replayed "sorry, please don't" and I told the second guy to keep walking, so now I know that when girls act snobby on home there's a reason behind it, that was enough to put me and my wife off this stupid social network game and not because of the game itself, which could be good, but because of the idiots, sex deprived wimps that clutter it.
In conclusion: give it a shot if you're curious, but keep in mind that a lot of people are on it just to act like fools, specially if you are a girl be warned most of the guys on it are there to ruin the experience for you, don't act like you don't know now.