I think the first Revolution may be over... but that the movement isn't dead. I think back to that old Backpacker Mag article with the UL'ers in the 70's -- revolutionary. Fast-forward even to 6 or 7 years ago and the gear, techniques and knowledge being compiled and discussed on sites like this one (or the old blogs) were truly revolutionary.
So now, in 2012, we see commercial, mainstream products and growing acceptance of the revolutionary ideas. The UL leaders are still where they were, even leading further, but the industry and unwashed masses (such as myself) are catching up. You're no longer seen as wild-eyed lunatics, because you've affected the norm, changed the world in a sense.
So, if you were a UL backpacker to be a rebel and to make a statement, the revolution may seem dead. There's more people at the swimming hole now, and it may have lost its cache' for some. I get it.
For the rest of us, still lumbering around with heavy gear and attached to the idea that backpacks are "supposed to be more" than dental floss & tissue paper, I suggest that the revolution continues and your work remains to be done...