Thoughts: API Only Services?

Joseph Scott theorizes about the prospect of all new (web) services coming out being based entirely on the use of APIs (Such as the Google Maps API):

Along with most folks, I'm thrilled when I see APIs made available for cool services. It seems to me that this what Tim O'’Reilly means when using the term Web 2.0. With open and usable APIs others are free to create entirely new products” by mix and matching APIs from various sources. This is great because it allows so many people to be involved in the process, not just the companies who came up with the original services. The more people involved, the bigger the pool of imagination from which new products and services can emerge.

Read Joseph's full posting here...