At Many2Many, Ross Mayfield has some thoughts on citizen's media, aggregation, powerful people and the power of the people:

...While an index can be a common point of meaning (e.g. the Dow), you gain greater affinity for an organization or individual who interprets where it is going (e.g. broker). Each shock leads to new models that are opportunities for new entrants. In this market of memes, anyone can be a broker, analyst or quant with the right skills and desire — and the right moment of entry.

My point is really the middle of the road. Aggregation will augment Citizen’s Media as it needs to scale. Editorial process will augment emergent practice. The long tail will wag the dog. If we will it to.