I think that the change is just starting. Sure the publishing gatekeepers imposed a sort of quality control, but they also limited what was available.
I'd claim that the real difference between 35mm shooting and digital is the means of rapid transmission and availability, not the loss of careful composition and considered manner.
Without the editor as quality control, there will arise some other way to weed the good from the bad, but there are still good photographers and bad ones and there always will be.
And there will always be people complaining about the good old days. Just remember that right now is going to be someone's good old days. The potential to make and share great images is better than ever. Figuring a way to wring monetary success out of that is the challenge.
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