BlogAds has done a study of blog readers.

According to Henry Copeland, blog readers are an elite group of people.
(for the purpose of the study Copeland includes bloggers as blog readers)

30 thousand internet users were polled, respondents had visited at least one of the 100 blogs forwarded in the study.

…most blog readers were “involved, upscale, intelligent, individuals who also read Atlantic Monthly, The Economist, The New Yorker, National Geographic, The Nation and WSJ.com.” For the Blogads study, Copeland surveyed more than 30,000 Internet users; respondents had visited at least one of 100 blogs to which he forwarded links to the survey.

The Blogads survey found the following:

…75 percent of Web log readers are over 30, 75 percent are men, 43 percent have household incomes of over $90 thousand dollars, and 14 percent are employed in the education industry.

The group polled by Blogads was found to be politically active, with 71 percent reporting that they signed a petition and 66 percent saying they contacted a politician. Fifty percent ranked blogs as having the greatest usefulness for news and opinion, and 75.3 percent said they read blogs for “news I can’t find elsewhere.”

Bloggers aren’t quite as big as they think they are. A February CNN/USA Today/Gallup poll indicates 56% of internet users had no knowledge about blogs, and 32% were very familar or somewhat familar with blogs.

No wonder we can feel ‘left’ out.
This is an elite group that BlogAds targets, and no where near the norm in terms of income and education for the 7 million blogs out there.