Blogs and Magazines: Friends or Enemies?

This week we saw another big design magazine go away. Metropolitan Home is gone. This trend is starting to get really noticeable.  At first it seemed that the publishing powers-that-be were just trying to use their arbitrary muscle to decide what we do and don't read.  But now with several design publications gone, I've got to begin to question what is really going on here.
In the blog world I feel there is an underlying sense of guilt that maybe bloggers are having a detrimental effect on the big design magazines.  And I've got to admit there has been a little bit of a feeding-frenzy excitement surrounding this past year's proliferation of blogs, (including my own humble attempt).
So maybe a time of reflection is what we need.  One thing I know for sure; bloggers love magazines.  It's obvious we absolutely devour every word and photo.  We own extensive collections of them and use them as our reference libraries.  We know the writers and editors and photographers like family.
So which is it?  Do blogs hurt or help the magazines?  Can we live in a world with no design magazines and only blogs? 
This is my take.  Blogs are an additional fix for decorating junkies, not a replacement one.  We still really, really want our magazines.  No monitor in the world can replace a beautifully photographed magazine, pure and simple.  The big culprit here, I believe, is the crappy economy and the fact that sometimes luxuries, however small, go first.  I just think we didn't realize that the magazines really do count on our support in the form of purchases to survive.
I will continue to do my part by still visiting my local Barnes and Noble every month, buying a big stack of design magazines and devouring each and every one!  ( Hopefully the kill-off will stop soon. )