It's the height of self-puffing windbaggery--all the webloggers warbling on about whether or not blogging is journalism. I stand aloof and pretend I'm not a part of that community, therefore I can unhypocritically slam the discussion while simultaneously participating. My
Journalism in the sense of journals, or journalism in the sense of reporting, or journalism in the sense of newspapers?
Insert long winded egopuff comparing blogs to pamphleteers, 19C essayists, etc.
Most blogs, like most bloggers, are boring.
Different people find different things boring.
Newspapers function as a rating unit--by aggregating and filtering and biasing their reporting a certain way, you know what you're getting (e.g., WSJ is always ultra-right ultra-capitalist thought) and can adjust grains of salt accordingly.
Blogs will never replace newspapers because bloggers don't do the footwork (see Scoble above), don't cover a wide enough variety of news, and aggregating blogs doesn't give you a consistent political opinion to reweight.