It is slowing down a some, but that's still pretty fast. Consider an network of two nodes connected by one mile of fiber. In this network, it's pretty clear that the number of gigabits of offered load should be equal to the number of gigabit-miles of trunking between the two nodes. Now consider a real network.
Every computer expects to reach every other computer with nearly equal quality.
While Warhole's Theorem is still relevant, on the Internet you are famous for 15 milliseconds, so who is famous changes very quickly. Again, note the difference in the units of those two numbers. Every year UUNet redesigns the basic network architecture. If you count 1994 as year one of the Web, then we're doing just as well. Eric Brewer, chief scientist for the Inktomi search engine, estimates that the Web includes about 200 million pages.