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All the web evangelists preach about new technologies, social networking and user generated content. All has been around for ages, it's just now that dickheads buy into all these "new" concepts and get a precuming stiffy when thinking of youtube and facebook.
At the end of the day, these sites are money drains. Tons of VC capital goes in and just now people start realizing that it's mighty fucking hard to profit on these "new media" outlets and social sites. In the meanwhile, another $20 million goes down the shitter and the expectations are still high. Give it another 2 - 3 years before the junkies will get off their highs and pull their dicks out.
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