According to a recent study, 68% of all Twitter users aren’t followed by a single person they are following. As the researchers rightly note, this makes Twitter more like a broadcast medium than a social network.
[Source: ReadWriteWeb] Not surprising at all considering how easily and quickly the mainstream media and celebrities have adopted Twitter as opposed to blogging. You can have a Twitter account, not following anyone and yet have millions hanging on to your every tweet.
Currently, there is much banter at least among certain cliques on Twitter but like comments on blogs, these will eventually fade away as people will go back to broadcasting and reading. Interacting and conversing takes too much time and effort and like days of chatting with 5 or more people at the same time are over, so will replying on Twitter.
In the end, you will end up quoting tweets in your tweets just like the blockquote above. Right now, it is done by short URLs and eventually, Twitter will figure out a way to do it better.