I've just finished reading "Here comes everybody" by Clay Shirky which has helped me understand the fascination with blogs and social technology. In chapter 4 he explains it so well. Basically blogs are a conversation between people similar to those conversations you might overhear at a mall, at a cafe, in the train, etc. So these "conversations" are not meant to be read by everybody, only those people interested. If you're not interested, then the blog isn't for you. To quote Shirky on p. 85 "It's simple. They're not talking to you."
Before I read this chapter I really didn't get the whole concept of blogs at all and I didn't understand the attraction of them. So I've really come full circle to now being a blogger (still learning!) myself.
I'd recommend this book to anyone interested in this area - he uses some great examples of what technology and groups organised around social technology can achieve.