"Prior to recent theoretical work on social networks, the usual explanations invoked individual behaviors: some members of the community had sold out, the spirit of the early days was being diluted by the newcomers, et cetera. We now know that these explanations are wrong, or at least beside the point. What matters is this: Diversity plus freedom of choice creates inequality, and the greater the diversity, the more extreme the inequality." (emphasis mine)
There's also a discussion on Slashdot.
I'm personally happy with having a 'blog that less than a dozen people read.. although the site mentions Livejournal as well, and why it has a leg up on many other blogging systems. (It has to do with treating it as a diary or a way to communicate with friends, instead of simply attempting to publish your beliefs to the world.)