Interesting article! I completely agree with you on this matter, there are really a lot of WordPress blogs around (mine included!). However I think you also underestimate the power of the WordPress community:
Among these websites, some of them have raised to select the information and give out only the best of it.
That is, I think, one of the best ways to go through WordPress news and info today without feeling overwhelmed. wpazo.com and wpvote.com are two of them. I myself try to do the same, without much success I must admit, but It is due to the fact I dont present the info in a correct way (within categories and with an except showing you what it is all about.

But I believe that's a good alternative! Maybe we should just use these tools a bit more!