At the beginning of the contest, Twitter was hot. Now it is not.

Twitter Loyalty. Non-existent.
That’s the problem with mini-bubbles: a few months of exponential growth does not translate to long-term sustainability.
60% of the users who signed up recently don’t come back.
Quitters clipping Twitter’s wings
More.
Even Facebook and Myspace have had greater retention: 70%.
I have longed complained about Facebook’s passive nature and think that
is its weakness. Twitter, in contrast, was a design that Facebook
essentially emulated. Could that be the reason why Twitter is losing
the interest of its users?
Even Computer World was not very nice in reporting this news. “Twitter quitters are fleeing the site in droves.”
Is Twitter finished? I don’t think so. It will find its niche. It
just won’t be the killer blogging tool that everyone anticipated it to
be. It will have a use for my blog.
Twitter works for me. It helps my subscribers keep track of my blog
(try subscribing on BlogSpot…it’s not that easy). Twitter is also great
for clipping out news clips for later. That is kind of like putting a
self-memo and sharing it for anyone who cares.