Social Media and Websites: One or Two?

Today, social media and website are becoming more and more intertwined.  No longer is social media a “cute” thing to add to the business marketing mix they are a vital component of it.  If this continues, which I think it will, what is the long term value of the traditional website?  Facebook, Twitter and the others are more than website.  They are platforms bordering on infrastructure.  

Where a website "ends" and social media "begins" is a boundary will increasingly blur.  This trend will have a major impact on a wide range of technology providers in the web development, web hosting and content creation industries.