How many blogs have you seen titled "such and such WATCH"? Quite a few if you travel the blogosphere for even just a few blocks. Here’s some coverage of a legal case involving a journalist and an activist over just such a blog. I can see a scenario whereby this affects blogs run by individuals who are covering companies, such as SalesforceWatch.
Before you jump to the conclusion that this is an attack on free speech and the Internet, which I did at first, I would suggest you read the plaintiff’s side of the story.