Can't say I'm surprised. But who'll be the rich fella with the pile of rejection slips that leaves F&SF a bajillion dollars?

Well, that's a rather hopeful perspective, as it assumes that short sf will attract the kind of cultural esteem and notoreity that will cause universities to spend millions of dollars creating a Dante economy for short sf after the Beowulf economy disappears...

I wonder if the blogosphere is actually a better model?

I got the meaning to be that short SF's fate will resemble poetry in that it'll only be read by writers of short SF, as poetry is (for all practical purposes) read only by poets and aspiring poets. There is a difference, however: short fiction, as a form, can become long fiction, ie, novels, and there is a publishing market for those. Poetry, however, has no other way to go.

Nick asserted elsewhere a lot of short SF mags are simply publishers' catalogs with stories in them. Maybe the bigger book publishers could start up magazines to broaden their exposure. Tor Fantastic Tales. Hmm. Might work.