Are we ready for another web "meltdown"?

I was thumbing through the Saturday paper and spotted an article taken from The Economist about web 2.0 and it's eventual meltdown. It's an interesting read and it echos exactly what happened in 2001 when the web bubble burst for the first time. I should know, I was in the middle of that storm and I remember the quick, and exceptionally painful demise of Ottawa Digital Media. After it's attempts to solidify deals with advertisers failed, ODM fell prey to the "what, we have to pay for this" mentality and the site became a hollow shell of its intended glory. 

Will the web bubble burst again leaving popular sites weeping and quivering in the corner like a beaten animal? The Economist thinks so!