Great. While I'm all for the little guy getting their product out, this makes literature another space in the world of art/media that will be filled by people with no business being in it. While managers, publishers, editors, etc can get, and often do, bad reputations for selling out the industry and abusing the artist, it still helped weed out the junk.
Now whenever I get a song or app thrusted at me I have to evaluate myself whether it's worthy of a second look since every kid can now upload his "music", "video" or "app". More often than not I just don't look at all, which causes me to probably miss most of the decent new content out there in the first place.
Give me a Pandora for books, movies or videos. Then I'll probably read good stuff I like. I've probably found hundreds of great artists I've never heard before only because I started Pandora hopping around.