Dot Com 2.0
Cinomatic, Food Porn Watch and the MP3 Blogs Aggregator - the ongoing rebirth of the aggregator. Ongoing differentiation means that the locus of competition will be from general to segment and category specific (ie food, cinema, music), just like in any maturing industry.
This is a big step in the evolution of .com 2.0. But the biggie is going to be reverse syndication - not syndicating your site to these aggregators, but syndicating these aggregators to your site. That's what will massively cut search and transaction costs across the network, creating huge economies for users and growing the market.
How will this happen? It's already happening: reBlog, for example.