re: Of course!
The blog-based news will rely quite substantially on the comradery and loyalty and connections of the global blogging community.
When I read that, I flashed instantly on Asimov's Spacer Worlds, and Solaria, where inidividuals abhor the presence of each other and live in widely separated estates, their only contact by "vidphone". That's a pathological society for humans, and yet that's much like your vision of "camraderie" on Planet Blog. The blogosphere is a network of isolated compounds, and as such one could reasonably dispute whether it deserves to be called a society at all.
But earlier...I'm confounded that you're confounded about where the standards of blogger journalism would come from. I devoted the second part of my post to making the point that time-tested standards already exist, and that it's just this silly "Next Big Thing" bedazzlement that makes bloggers arrogantly proclaim that the novelty of their technology alone is sufficient to replace traditional journalism.
Ten years ago, Web shopping sites were predicted to destroy brick-and-mortar commerce, too. And like Blog-Mania, eCommerce-Mania was powered in most cases by little more than its own novelty--nobody would explain exactly how business would be radically different on the Net, and nobody would sully the vision by admitting to the need to learn from expertise developed in ten thousand years of commerce. Nooooooo! The Internet Changes Everything! And suspends the laws of economics and physics!
Relax, man, behind the hype is significant change. it's just that emphasizing the novelty can blind a person to the possibilities of evolutionary improvement. Not as exciting, but in the long run probably more likely to produce meaningful change.