"anybody who's going to have a blog has one by now, after two years as a journalist you get stale, lots of bloggers are going back to real life"and graphs the "daily reach" of memeorandum.com, thereby confirming that for him it's all about the eyeballs. When I look back at my own blogging history I see that there are frequently months when I have written nothing at all in my blog, and hey, here I am still blogging.
If blogging is just "look at me, Ma!" then the sooner it stops the better. Blogging works best not when it's a publicity channel but when it's a reasonably consistent, selective window onto the world of the blogger. Like journalism, much blog content is ephemeral, and the blogging world needs to remember that. If it's not on page one of my del.icio.us then it's history. If you want the history it's sometimes there, but remember it could be a revisionist history as blog posts can be changed at any time.