After all, digital rubbish is no less rubbish for being digital. But the key point may be that if professional authors work with professional editors in digital formats, they are removing the value-add element from the traditional publisher role. Among other things, it pretty well does away with the concept of the boutique. Stock density is much more important than quality. In its first stages, this will see a reduction in consumer choice offset by fantastic competition.
Networked markets are open and price changes immediately visible.
There are not many true Internet businesses. Apart from banking, music, etexts, video and games, websites mainly offer physical goods and services. Wonderful one day and a disaster the next. This shift is bound up with the lightness of being in a digital world. And it will transform as we develop new products - from design and content to pricing and functionality.