Need of namespace in XML

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I understand that within a XML if I have same tagName for two different tags, then to separate the two of them, we precede it with the namespace to make it unique. but in the top when we say

<rootElement xmlns:myNameSpace="http://www.myNameSpace.com">

Now, why do we have this http://www.myNameSpace.com? What purpose does this serve, apart from the fact that it will be unique.

Also, I was reading about xslt, and since it is also a XML then it defined the namespace as

xmlns:xsl="http://www.w3.org/1999/XSL/Transform"

Now, first, what exactly does this link tell me and how does it help in xml rendering? So does it serve anything other than the uniqueness? And why go to such extent? If at all within a XML, I have conflict between two tags, I can just use any two namespaces, say namespace1 and namespace2 and work with it.

Is there something I am missing here?

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