Social media is BS repellent
The emergence of “social media” – or more accurately, what Shirky says – doesn’t mean you don’t have to advertise/market (aka: get the right people’s attention in a specific way). But it does mean that great marketing will no longer compensate for a crummy product. That era is ending and no one will miss it. Brand is product is marketing (in whatever order you like).
Or… Nothing has changed. Same dynamics as before but the timeframe is collapsing to zero.