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To answer the question, no I don't think text TGP sites are dead. The only reason it appears that thumb sites rule, is because of the marketing and that they are visually appealing, so everyone and their brother launched one.
Some people are learning that switching over to a thumb only format, isn't producing as much profit and/or traffic for them as their text only format, so some people are switching back to text or a combination of thumbs and text.
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