The Blogosphere is the biggest business opportunity out there. Just imagine: an estimated 20 million-plus blogs, and not one has yet figured out how to effectively monetize its product. A shakeout is coming. The blogs that succeed will be the ones that figure out how to generate revenues through some combination of advertising and subscriptions. Both of those revenue sources largely depend upon traffic. Traffic is driven by visibility, and visibility is largely the product of promotion. And bloggers are learning that sending today's screed to Instapundit in hopes that he'll mention it, or waiting around for CNN to call, won't cut it.
I dunno, it still seems like a pretty popular approach.