What do you get if you take one idiot, and put him into a crowd of idiots?
I’ve always been suspicious of the idea that there is wisdom in crowds, as the opposite, more often, appears to be true. However there is certainly value to be had in aggregating crowds, especially for marketers.
Interesting article on Read Write about sites which use crowds, although I’m not sure about the wisdom of using Digg as an shining example. Digg certainly reflects the fleeting interests of it’s demographic, but there’s not much in the way of wisdom generation going on, really.