Are you looking at a Dinosaur?

Blogs are so passe, it’s all about Facebook now, according to a recent article in USA Today.
This is, on the surface, a tad bit alarming to me as someone who is devoted to helping others develop their blog strategies. Is this mode of communication really on its way out?
I don’t think so. Rather, I think the falling numbers support what I’ve long contended – that blogging is not for everyone and that in order to be effective, a blogger should have a strategy.
The article sites a University of Massachusetts Dartmouth survey that indicates that the percentage of companies maintaining blogs dropped to 37 percent in 2011 from 50 percent in 2010. The number of Fortune 500 companies maintaining a blog was flat after rising for several years.
Blogging is “free,” but it’s not cheap. It requires the most valuable thing we have – time. The question you have to ask is whether it’s worth it. I’d like to unequivocally say the answer is yes, but more realistically, I say it depends. Is blogging badly better than not blogging at all? Would spending more time on Facebook or Twitter be better? Can Pinterest serve as a decent replacement?
All forms of social media have benefits, but they also have their limits. What do you want to get out of it? How do you want to connect with your readers?
Will blogs significantly decline in popularity? Please, dust off your crystal ball and let me know what you think.