Thanks for that comment! Perhaps it is more a case that there is a paradigm shift away from an application-centric Web to a content- and context-centric Web for the time being. I think you make a good point when you talk about the importance of context because my growing sense is that context is very important. It is almost as if we have a broader context of the global village popularised in the late 1990s and yet people prefer to be in smaller communities, whether those communities be social networking sites or content sharing sites.
The larger context just makes it that much easier to participate in the conversations going on in a broader variety of communities but we ultimately communicate within these smaller communities rather that trying to maintain a conversation in the much larger context.