Web 2.0:Devaluing the user?

Umair’s got a post speculating–and modelling–how the market might value a DIY media web 2.0 user whose all of whose content goes over IP, vs a more traditional Web 1.0 user–and it’s a good read.
His conclusion:”Web/Media 2.0 is going to destroy a great deal of value for many incumbents along the value chain. ”