seems pretty interesting...all though I don't think I agree with it (or at least what you said). I think that current technology gives power to individual creativity more than at any other time in history. Everyone that has an urge to show of there pictures/writing/music can do so with a few clicks of the mouse. Authors can set type themselves and even publish by themselves. There are a ton of other examples.
As for following waves - that's exactly it - a wave, and sooner or later it will reach land and dissipate. It is hype, or trend, whatever you want to call it. Media organizations use these services as mediums to reach audiences that otherwise they might not...the medium that is used does make it lose its cultural identity.