Read the whole thing to find out why.
By the way, I don't think RSS 1.0 is totally dead. It will live on in niches just as CORBA has a niche (maybe like the BBC's use of RSS 1.0 (although I don't understand why they couldn't have used RSS 2.0, but I'm probably missing some technical reason for this)). Hmmm, maybe that's a good slogan: RSS 1.0, the CORBA of the 21st century. OK, maybe not :-) !
On the one hand we have RSS 2.0 or Atom. The documents that are based on these formats are growing like a bay weed. Nobody really cares which one is used because they are largely interoperable. Both are essentially lists of links to content with interesting associated metadata. Both enable a model for capturing reputation, filtering, stand-off annotation, and so on. There was an abortive attempt to impose a rich abstract analytic formality on this community under the aegis of RDF and RSS 1.0. It failed. It failed because it was really too abstract, too formal, and altogether too hard to be useful to the shock troops just trying to get the job done. Instead RSS 2.0 and Atom have prevailed and are used these days to put together talk shows and play lists (podcasting) photo albums (Flickr), schedules for events, lists of interesting content, news, shopping specials, and so on. There is a killer app for it, Blogreaders/RSS Viewers. Anyone can play. It is becoming the easy sloppy lingua franca by which information flows over the web. As it flows, it is filtered, aggregated, extended, and even converted, like water flowing from streams to rivers down to great estuaries. It is something one can get directly using a URL over HTTP. It takes one line of code in most languages to fetch it. It is a world that Google and Yahoo are happily adjusting to, as media centric, as malleable, as flexible and chaotic, and as simple and consumer-focused as they are.