Another Excellent Analysis of the Industry by Paul O'Brien:
Article 10: The Year Of Living Aimlessly is a brutally honest look at the trends that are driving the industry right now. The sad thing is, any number of people are saying what is wrong with the industry, but those voices are drowned out by the cha-ching of cash registers and the numerous people who are eating up the crossover/event marketing with a spoon.

Kind of like the '90s, really, except without the huge paychecks that at least allowed some of the creators to get rich off the crumbling of the American comics industry.