This is the most hilarious thing I've read this week.

An "everyone’s gotta read it" blog does take time to build, as you mentioned. But I think, a blog that everyone would want to read should carry expertise in one field. Like Techcruch is for technology and web startups, Mashable for social media and Problogger for blogging. People know, that whenever they need any advice or new coverage, these blogs should be the first to post it and hence, these "everyone gotta read it" blogs need to stand up to expectations that readers demand. Once you create a reputation for reliability and regularity, you need to stand up for it always, or you fail.

And I think that a particular niche is also important for such a blog because a single blog can't report everything and become a one stop for people of different interests.