Will Video-Calling Decrease Home Movie Making?

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Back in the early 1970s, when 8mm and super 8mm “home” movie cameras became really popular, a tradition started where families would document their lives, often focusing on the kids. Reels would be processed, and copies sometimes sent off to grandparents, etc. Just speculating, but I’m wondering if, with the increasing use of free video-calling software such as SightSpeed and Skype, whether the need for home movies will decrease.

If grandparents and other family members can easily see each other, why spend money on videocams, even with their decreasing price? What might happen to fill the vacuum is that more families will document themselves using websites, with rich media content including podcasts/ audio, photos, and even recorded videos – just taken from a webcam rather than a videocam. So in essence, home movies will still be part of the tradition, but their form would morph into the blogosphere.