Don't blame the newbies! Your thoughts?

[Almighty Colin]

I don't think there's anything WRONG with the industry or things are going bad or anything like that. The industry is getting normal. There are some people getting extremely wealthy, many middle-class webmasters, and a whole lot of people that try it and go out of business.

Many business models have an extreme boom period at the beginning (like the airline and car industries) where competitors can come in and dominate the market even if they weren't there on day one. Eventually, only the most apt new businesses have a chance and many just come and go.

I'd be surprised if the income distribution looked much different than a standard income distribution for an industry except there would be a longer tail of lower income webmasters because someone can do this for free if they wish.