I tend to agree, but with the following qualification: I don't really read any particular person's blog regularly, but I do end up reading a range of blog entries when they are linked from some sort of aggregator (HN, Twitter etc).

Additionally, as a software developer I often find myself on the blog entry of another developer who has blogged a solution to just the exact problem I am facing, which is extraordinarily helpful.

For those reasons I feel that these blogging sites should and will continue to exist in some shape or form.