It's a great way to promote and share original material, inspire new content, and stimulate internet culture.
But doesn't it also water-down the internet? Are blogs that only reblog other blogs' posts redundant?
It depends. There are several good blogs that I follow that have probably 90% reblogged content and only about 10% original content. The type of information you reblog and whether you add some of your own thoughts at the end of it can make or brake this kind of strategy.