Are we done with the hype called Social Networking?

Quite lately, I have been wondering about the dying hype/fad called social networking! These days, nobody talks about them..its all about twitter, friendfeed. Short conversations have taken over ‘add/find a friend’ features.

A typical hype cycle? Oh well, this is what a hype curve looks like (courtesy: wikipedia)

Do you think social networking story is over for India? Are we past the “peak of inflated expectations” phase? Will we ever get into the slope of enlightenment?

My question is – do such networks exists because of easily available CMS tools like Drupal/Joomla/Ning etc, i.e. if not for these tools will the creators actually take the pain of doing something more valuable/thoughtful?

Aside, I have talked about the ever increasing need for vertical social networks – be it for motorsport enthusiasts or for merchant navy officers; and now, BPO employees have their own social network – bpovoice (uses Ning platform), which has useful resources for BPO employees.