Is AOL at all relevant?

As I have mentioned in the last number of posts, I have been hanging out at the Association for Education in Journalism and Mass Communication annual conference. Well yesterday I went to a panel session entitled something like...YouTube Effect: Virual Marketing and blah blah blah...The panel was pretty good and mixed a couple academics with a couple of industry experts. What was interesting to me was there was an exec from AOL on the panel. I'll have to look up his actual title in the program at some point, but he said his job was essentially Director of Programming for AOL Video.

What he said was run of the mill kind of internet video stuff, but what I took away is that AOL is not relevant at all anymore. I mean seriously. He was sitting on a panel entitled "YouTube Effect." AOL does not seem to be coming up with any new or creative ideas. Example: the only new thing he talked about was minisodes, which MySpace made big. What can I say I am still sort of amazed that a company that played such a large role in revolutionizing media can become so irrelevant a decade later.