I didn't watch the clip he links to but I can't imagine anything is more entertaining than David Galbraith's scathing goodbye to Dubai. He opens with:
Short of opening a Radio Shack in an Amish town, Dubai is the world's worst business idea, and there isn't even any oil. Imagine proposing to build Vegas in a place where sex and drugs and rock and roll are an anathema. This is effectively the proposition that created Dubai - it was a stupid idea before the crash, and now it is dangerous.
What's the biggest problem with Dubai? It doesn't have the cultural bedrock needed to support a destination city.
It looks like Manhattan except that it isn't the place that made Mingus or Van Allen or Kerouac or Wolf or Warhol or Reed or Bernstein or any one of the 1001 other cultural icons from Bob Dylan to Dylan Thomas that form the core spirit of what is needed, in the absence of extreme toleration of vice, to infuse such edifices with purpose and create a self-sustaining culture that will prevent them crumbling into the empty desert that surrounds them.