As a kid from the generation Y, I'm completely enjoying it. But I recently realized that not anyone uses the web as I do. Finally our open place is just a cocoon reserved for the happy few who can deal with that a huge amount of information.
Twitter might the greatest example. It's announced to be the new real time information place. But as it's only used by the Internet cocoon, the only information shared is about Internet. What about he other field of interest?
Besides Twitter is said to be worth $1 billions. 1 billion are you kidding me? This company doesn't even have a business plan right now. And as it's so open a lot of entrepreneur decided to try to develop something around Twitter (Seesmic, TwitterDeck, Twitterscoop... you name it). So, as it's the open, everyone can try to make money out of Twitter. What will happen if Twitter crashes?
Twitter is the most obvious example. But the same conclusions could be drawn for the other social media (Facebook, Blogs, LinkedIn...).
I would say that the social axis is a way to thing when you work on-line, but you cannot afford to be only social for the name of it. Create something new and socialize it, otherwise we might have a second bubble burst...