Is Squidoo Closing its Doors?

Open social network sites like Myspace and Facebook are now facing some potential huge competition to take their members away.  Is that trend going to cause sites like Squidoo and Hubpages to jump on the next trend of social networking by closing their doors and only allow member to view content on these platforms?

It is doubtful as the search engines are their primary source of traffic and the community atmosphere that exist within these cultures encourages people to create content to earn money for themselves, charities (a squidoo exclusive) and the site operators.  If they close their doors it would destroy those business models. 

Blogs and forums from their inception have had ways to keep prying eyes from their content and membersites and premium content sites are the new wave of internet marketing, Social Networking has taken notice.

The real advantage to closed networks is that it gives people the opportunity to network with like minded people and to bar entry to those without that common bond.  This gives users of these networks the opportunity to establish bonds with a presreened group of people without the fear of abuses in the system like you see rampant on myspace.

Is this then new wave and the decline of user generated content?