Social media is several years old. It will celebrate a decade of existence soon. 2011 will start the process of another significant shift in its use, the arrival of the early majority, with the mass majority bringing up the rear expeditiously. For the early adopters it sends shivers of apprehension as well as excitement. Social media is going to change for the good and for the bad. As the title of this paper alludes, there is much delusion. Delusion both on the cynics side of the fence and on the believers too. Social media’s one solid point is that it is always in a state of flux, fighting for its right to be taken seriously and battling for its position in society as a whole, not just in marketing.