In fact, between 1995 and 2006, the total amount of web traffic went from about 10 terabytes a month to 1,000,000 terabytes (or 1 exabyte). According to Cisco, the same source Wired used for its projections, total internet traffic rose then from about 1 exabyte to 7 exabytes between 2005 and 2010.
So with actual total traffic as the vertical axis, the graph would look more like this.
Clearly on its last legs!
Assuming that this crudely renormalized graph is at all accurate, it doesn't even seem to be the case that the web's ongoing growth has slowed. It's rather been joined by even more explosive growth in file-sharing and video, which is often embedded in the web in any case.
I've been saying for years that the web is just a transitional phase of the net on the way to whatever is coming next but that I had (and still have) no idea what that next was.
I was pretty clear though, about what I meant by "the web" was websites as such.
Browsers force us to "go" to a web "site" to get information or interact with people on "forums", a website is not an end, its an intermediary between me and the person who posts the information to it, its a middle and a technology dedicated to disintermediation will leave it behind.
The WEB used to be the end in itself, but now it has been swamped by all these other tools. Is it dead? No, although the whole IPv4/6 shemozzle could be a nasty blow to the groin, but it is shifting from being the destination to being the carrier. Newspapers probably wont die out completely, neither will radio or TV, so I don't expect html to disappear any time soon, but for those of us who still remember the excitement of "having a website", that web is going fast.