Pajamas falling down?

Dennis The Peasant checks out the stats for the Pajamas Media Crowd:
Yep.'s page views trending downwards, and for all four pajamasmedia affiliated sites, (,, and page views per day have declined since the inception of
And this, in spite of a huge expansion in people using the web. As Dennis points out it's not quite "coalescing the Internet's brightest minds and most compelling content into a single source that will, in turn, redefine journalism in the 21st century and beyond", is it?