Adam Weinstein (on MotherJones - Smart, Fearless Journalism) writes and thinks so and Scott Karp (on Publishing 2.0) doesn't.
While Adam (a journalism student) sees and writes under the heading Stop the Press Releases! Citizen Journalism mainly as a trick of newspaper publisher to fill their pages, cutting costs and replace paid staff, support lazy journalists and editors and open up the 'holy grail' to flacks and hacks (is that what he has been taught at his journalism classes?)
Scott is seeing Citizen Journalism / Networked journalism as a chance and progress for newspapers, journalists and journalism and shares his ideas in 'Developing Algorithms To Prevent Citizen Journalism From Being Gamed: Lessons From Google and Digg'
As Leonard Witt points out at PJNet, you are better off reading both articles.
I fully support Adam on his call 'Stop the Press Release [Culture]! '
(Cross-posted on HEM on Media, Marketing & Internet)