Web2.0 bubble bursting?

Well, maybe a little exaggerated but the story at The Register shows the fad-ish nature of sites such as MySpace- a few will use them a lot, many will try once and then clear off and some won't try at all.

In the case of MySpace, clearly the 'few' is sufficient to hit critical mass - but with eveyone else wanting to move into this space there's only so much room.