“MeiselPic” is alas not a new Twitter photo service but a multi-pic editorial for Vogue Italia by noted fashion photographer Steven Meisel, inspired by social media and the grassroots-level innovators bringing fashion ideas to life via their Facebook, Lookbooks and Twitpics.

The latest “Destruction of Journalism” debate centers on a Time magazine cover announcing “The New Frugality” — a rather meta choice, considering the flap emerging online about the fee Time paid for for the stock photo used: $30.

Is Time devaluing the worth of photographers? Or is it, like everyone else, straining to find creative ways to maximize budgets that have been slashed to bits? And is this “wrong” or just part of the natural order of things?