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UPDATE: James Pinkerton:

The two key concepts in this never-ending techno-saga are the increasing ubiquity of Internet-based technology and the decreasing barriers to entry into a public forum. That is, anybody with a computer and a modem can be a blogger, and any blogger can be a media-player. So what comes next? The past tells us that techno-change is tectonic change. Prior to the 15th century, the Catholic Church maintained its monopoly in part by controlling Bible production. Bibles were not only scarce but were hand-scribed in Latin, which only priests could read. Then came Johannes Gutenberg, who used movable type to mass-print Bibles, eventually in local languages. Soon ordinary folk were reading the Bible for themselves and thinking for themselves. Protestantism was born. What followed was a century of religious war, but the world was transformed. One of those transformations was the radical new reality that technology would continue shaping events. So today, Rathergate is just so much foam on the surface. The deep current of our time is that the old networks have lost their power to a bunch of scruffy no-names. Techno-change is shaping history yet again.