I'm more optimistic. I'd say that since we have the Internet, mining the long tail is finally possible. Yes, we don't have yet the perfect tools to do so, but it's definitely doable, and 20 years ago it wasn't even a dream.
Also I'm more inclined to invest into it: I got much more enjoyment from Evil Dead then from any current blockbuster - 90% of which I don't even watch anymore).
IMHO, the internet enabled us to discover the existence of the Long Tail and appreciate that it's there and is of huge potential, but is ill-suited (at least in its current format) for making use of the Long Tail. I had high hopes for "the semantic web" and unlocking the tail; but that - most unfortunately - amounted to nothing.
