I think what is missing now is the rich set of tools around the ecosystem. Posterous was a great service to let you email your thoughts directly to a blog post. I am amazed there was no other competitor that sprung up when they got bought out and shut down by Twitter nearly a decade ago.
I really miss Google Reader, which was where I used to keep a curated list of the top blogs I used to read regularly. Even now, some mornings I wish I could just open my Google Reader home page and check out the latest updates from some of my favourite bloggers.