Steve: I actually think, in some cases, the blogging process works like GCA. Blogs are easy to add content to and allow for an open discussion with readers.
That said, I think there are a handful of golf blogs worth reading -- not many to date -- and few that reach a large group of readers. I get about 100 readers a day at mine, and its building. However, I'm a golf writer and use the outlet to point people to areas and stories I think they may be interested in. Occasionally I add my opinion. Sometimes I add photos of the more interesting courses I've played.
Why do bloggers link to other blogs? The simple answer is to provide readers with information. It really isn't any different from a contributor on this site pointing to something they read on the web and feel others will enjoy.
It also become reference network -- a good blog typically points to other good blogs. Or at least that seems to be how it works -- this is developing as we speak.
Of course this could all end up as a fad -- but it could also be the democratization of the media so many have spoken about in the past.
And why shouldn't blogs eclipse something like GCA? After all, this is a narrowly focused site with a group of people who are often narrowly focused. It is also dominated by a handful of regular posters, whereas blogs are open to anyone with an Internet connection.
By the way, I hated the concept of blogs and blogging when the concept emerged. Now I'm a regular. And even though I have a couple of hundred thousand readers who look at my stories in the paper each day, I find I have far more interaction with my blog readers, though they number in the hundreds.