It's a matter of degree. Obama is certainly newsworthy - but Newsweek was excessive in its fawning, uncritical coverage.
And the Huffington Post isn't? And The Nation isn't? And the NY Times isn't? And MSNBC isn't?
It's their business model. Not their focus on Obama.
Bo's right. Newsweek couldn't afford to alienate subscribers in its excessive, fawning, uncritical coverage of Obama. This is a center-right country. That's why Fox is beating MSNBC. And it's why the WSJ is doing better than the NYT. They simply have larger pools of potential customers to sell to.
Established lefty blogs and magazines ALREADY have the corner on the liberal niche market. And just like in every other market, you're not going to sell a fake to a customer who can buy the real thing... not for the same amount of cash anyway. And in the current market, Opinion can be had for free.
The focus on Obama, the lack of constructive criticism, displayed a propagandist agenda. It was very clear that this magazine had gone from reporting and analysis of the news... to attempting to manipulate public opinion.
The difference between center-right outlets and leftist ones... is that they are already in sync with the largest pool of potential customers. They aren't taking a minority opinion and artlessly trying to mainstream it. They're appealing to the majority opinion as it is.
Liberals don't believe that their opinion is in the minority. They only see that their "progressive" representatives are successful and in power. They can't accept that these people LIED in order to get where they are, that they DO NOT truly reflect the views of the majority of Americans. They can't see that the power these people have is tenuous, dependent upon keeping up the lie and upon keeping their voting districts gerrymandered just so.
Newsweek is deserving of its fate. They too... LIED. They were supposed to be selling news.