Back in 1996 at Homecom we were preaching the 3 C's of web design to our clients. Every site had to focus on Content, Community, and Commerce. And of course, they needed to pay us big bucks to make sure it was done right.
Take a look at your typical weblog. Content is king. As Kottke recently noted, the design on a weblog only matters if it is bad and gets in the way. Weblogs are also all about community. Even a blog without comments can have a community effect. Andrew Sullivan definitely has a community of readers. Commerce is the unknown. Can you make a living as a blogger? Sullivan can for the next year at least. Nick Denton is giving a shot too, with encouraging early results.
What does this mean? I have no idea. I just thought it interesting that the "hot new thing" is based on 7 year old ideas about what the web should be.