Social Media: are they reaching a breaking point?

“...social media owners can't risk losing the support of partner brands and advertisers whose funds pave the way for new waves of innovation”

This is a quote of Steve Richards (managing director of Yomego) interviewed on BrandRepublic's article Social Media Websites at pivotal pointIn my opinion, the above warning, should concern social media owners but in a different way.
Social media (and all the rest of 2.0 websites) flourish where people feel free. Free even to decide what's fair and unfair.
Digg docet (do you remember this?)
What if people decide to move to a different platform?
Are social media facing a breaking point?