Is your question really "is blogging dead?" or is it "is it more difficult to make money blogging now than it was in the past?"
From where I sit, blogging is not dead. People's tastes mature as the 'net matures. I have no desire to read anyone's personal blog, with the exception of robjones', but then, he's a special
SEO without content is like building a campfire on a frozen lake - sooner or later, you're gonna sink. Focus on the end user, on giving people what they want, and the rest will naturally follow.
Life is meant to be experienced, not observed. ~ Me