Personal content was what made the Internet a success.
We could read a newspaper, a book, see a movie, or watch TV, also before the Internet.
What makes the net special is the possibility to actually "exchange" our thoughts, ideas, pictures, movies.
It is a "democratic" way to make new content, because it is cheap, so cheap that almost everyone can be a consumer and a producer.
The people who do not see it are people who do not see the future (or do not want to).
And I am not talking about quality.
I am talking about a new kind of entertainment, so entertaining that the young generation forgot TV.
Ask a young guy what he likes to do and he will answer he likes the NET, he spends most of his time on the Net.
So much that we have the new kind of "addiction".
In a very near future we will have good journalists, good movie producers and may be they will be someone who began on the Internet, with the first movie on Youtube.
Who cares if 99% is crap?
The 1% will be anyway a number like a thousand, or many thousands.
Be prepare people of today, the future will all be another thing.