I don't know if you've ever read my piece on mass amateurisation, but I came to a pretty similar conclusion, and I think when you do it it makes the whole arena much more interesting and clear. The post his here: Weblogs and the Mass Amateurisation of Nearly Everything and the salient quotes are probably:

"In terms of self-representation, the homepage is like a statue carved out of marble labelled carefully at the bottom where the weblog is like an avatar in cyberspace that we wear like a skin. It moves with us - through it we articulate ourselves. The weblog is the homepage that we wear. And this is the big leap forward - this is where the value of weblogs lies in the newly amateurised world. This flexibility of publishing creates a fluid and living form of self-representation, the 'homepage (as a place)' has become the 'weblog (as a person)' that can articulate a voice."