There is a sense that "everybody" is getting in on the e-market. I think not. NASDAQ and IPO activity is most influenced by folks who've been in technology for a while. That is, e-markets are most affected by feelings / expectations of the slightly-to-extremely geeky. They're the folks with discernment, first-hand tech-knowledgey -- and they get those "friends and family" IPO buy-in offers. That crowd is most likely to be upset by eToys' approach. So, they (and the folks they frisbee golf, ski, or i-game with) are voting with their feet.