Quality Editorial: Priceless?

Matt McAlister was exploring his feelings the Web 2.0 bubble, and touched upon an interesting question. He reflects on his first encounters with the threat of the internet to the market share of a print magazine he owned:

“Was our island of high quality editorial a strong enough position to grow from?”

The rest of the article talks about the recent financial windfalls of online media companies. It just got me thinking about his question above. Would the answer ever be that “low quality editorial” is the answer? As media companies explore the online opportunity, change business models, and compete with a broader audience across many media platforms, I hope that they don’t forget that their product is not their brand, it is their high quality editorial.