First, let me say that this is a fantastic piece. I've covered events with Stephanie and can say that she at least acts like she belongs, which is more than can be said than a lot - A LOT - of hotshot web folks out there.
A lot of you will recognize that this is something that happens more and more with smaller events - minor league baseball, for example, or some smaller colleges. There's occasionally a reporter from the metro paper there, more often a reporter from the smaller daily there and almost certainly, anymore, someone who runs a blog or some smaller website devoted to covering either the team, the school or the league. With such a niche audience, of course, the page views on these things can't be very high.
I know of a fellow who started a website while in college devoted to covering one of the smaller Division I basketball conferences. He's part slimeball, part schmuck, and a bit of a know-it-all, and he's very off-putting. But, if you check out the guy's website, he's got quite a bit of information up there, covers quite a few games (I think it was about two or three a week) and the coaches seem to know and respect him. That may blur the lines a bit - do the coaches respect him because he's always at the games, or do they respect him because he does a good job? - but as long as you do a good job, I think that's all that counts. After all, there are plenty of slimeballs who work for newspapers and radio stations still today.
The other half of the equation, though, gets back to what 93Devil hinted at - those granting press access to certain individuals, and what they consider to be an acceptable standard. I'm convinced that at one of the small colleges in the area, I could start a fanboy Wordpress blog rife with spelling mistakes and factual errors and still be given a credential because they think it's cute. They're the ones who are not doing anyone favors.