Glenn Reynolds makes an interesting analogy about journalism and beer making in his new book:
Without formal training and using cheap equipment, almost anyone can do it. The quality may be variable, but the best home-brews are tastier than the stuff you see advertised during the Super Bowl. This is because big brewers, particularly in America, have long aimed to reach the largest market by pushing bland brands that offend no one. The rise of home-brewing, however, has forced them to create "micro-brews" that actually taste of something. In the same way, argues Mr Reynolds, bloggers--individuals who publish their thoughts on the internet--have shaken up the mainstream media (or MSM, in blogger parlance).
What, no "drunk on power" quip? Curiously, the Economist piece fails to mention the name of Reynolds' book, An Army of Davids, although it appears over in the right sidebar, almost camouflaged as an ad.