Closer to the truth is that everyone thinks everybody else cares what they have to say until they realize that nobody really cares. Last year I checked on the blogs that a couple of my more self-obsessed professional acquaintances were writing. Exactly zero people had written comments on their (many) blog entries.
;)
It is actually coming to the point perhaps where many bloggers have sacrificed quality for quantity.
I don't fall for the pressure myself - but the lack of donations and the decline in traffic can be a major bummer - there is a strong lure there just to "update" something for the sake of updating.
Look carefully at the blogs and you will see that the successful ones actually 'write' little if anything. They merely provide links to other stories. The blogs that actually produce news get screwed in the end.
The lack of comments combined with lack of advertiser income or donations is disturbing because it gives an indication that no one really gives a crap what you write - and eventually the blogger just gives up.
While I still blog myself - I often think that for me it is more of a liability than a benefit.