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But like Wikipedia, blogging harnesses collective intelligence as a kind of filter. What James Suriowecki calls "the wisdom of crowds" comes into play, and much as PageRank produces better results than analysis of any individual document, the collective attention of the blogosphere selects for value.
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I am wary of any kind of "value" that "the wisdom of crowds" might put out. Group think isn't my thing, and neither are posses.
A crowd of wolves might feel that the lone sheep visiting as a guest should turn into a tasty dinner.
"Wisdom of crowds" is an oxymoron, and it's why the US is a republic, not a democracy.