It's looking like individual companies will have to run their own securities now. Which is fine, since it's 1 less entity to trust.
That would cut down the risks involved with a centralized trading site. There are private investment ops floating around, but it's hard to compare to the selection you have with the GLBSE. Also, investing in private securities would make it more of a headache to diversify, iow there's a need for a market.
I disagree with ppl who claim that the offerings on there were mostly scams. There a lot of legit offerings, and I really hope we can get the site back up and continue trading.