AllThingsD report that their sources believe that Ping will be removed in the upcoming release of iTunes. Making this move makes sense because of the seamless integration of Facebook and Twitter that Apple introduced for both iOS and OS X, and the fact that Tim Cook himself acknowledged that customers didn’t like the service at the D10 conference.
The other problem with Ping was that it was too commercially based rather than socially based: it is very difficult to socially interact with others, yet too easy to subscribe to artists so you would be notified when their latest song was released.
If they called on the likes of Facebook or Twitter to help them create their own social network, it probably would have had a chance. But then again, social networking is not what Apple is good at: they make killer hardware, not a platform for people to interact to others.