I wonder what Greg Knauss thinks about the subject now.
It’s not to say that Weblogs are going to replace journalism, but they have fairly well taken off.
I think the dumb thing to do with marketing any emergent technology is to say, “This will replace X!” Few things are truly ever replaced. Vinyl and cassettes still happen [though 8-tracks are severely niche these days]. Radio didn’t die [although sometimes you might wish it would]. Cable and satellitte didn’t kill the Big Three … in fact, it’s now the Big Four.
All media for expression—whether commercial, artistic, personal, or all three—overlap. They rarely, if ever, replace. Technology might change the delivery, but change is rarely, if ever, revolutionary.