It's the end of an era. From 2005 to 2007, the "Web 2.0" craze, the release of Ruby on Rails, and the rise of Agile methods all happened at once. These ideas all fed into and supported each other, resulting in a cohesive movement with a lot of momentum. The long-term fact turned out to be that this movement didn't benefit large corporations that have always been and usually still are the main source of employment for software developers. So we have returned to our pre-Rails, pre-agile world of high specialization and high bureaucratic control, even if Rails and "Agile" still exist with some popularity.

The Web 2.0 concept, which was mainly just marketer-speak for using a lot of AJAX, survived and continued. Agile survived but was transformed into its own opposite. Rails continues, but it has lost its ability to draw newcomers, which was its source of vitality. This is not because the technology has changed, but because the world around it has changed.