Pajamas Media - The Blogosphere's MSM?

I'm interested in all the hoopla surrounding Pajamas Media - the new blogging conglomerate founded by Roger L. Simon and Charles Johnson (of the blogs Roger L. Simon and Little Green Footballs, respectively). Granted, they have quite a respectable "Editorial Board" - including Michael Barone, Tammy Bruce, David Corn, Jane Hall, Larry Kudlow, Michelle Malkin, and many more. But what is missing? Ordinary everyday bloggers. One reason the blogosphere has exploded is the elitism of the mainstream media (MSM). It became impossible to get opinions and news out over the MSM if the MSM elites didn't want it out. The blogosphere developed as a means of pointing out the MSM's elitism, arrogance, and bias - and, on more than one occasion, their gross factual errors. Do we really need a blogosphere MSM? The "big" bloggers on Pajamas - and everyone else on the outside? Remember, Pajamas - pride goeth before the fall. (Just ask Dan Rather and Mary Mapes about that.)