Danah Boyd distinguishes micro-fame from mass media celebrity culture:
"does micro-fame (such as the attention one gets from being very cool on MySpace) feed into the desires of narcissists to get attention? On a certain level, yes. The attention feels good, it feeds the ego. But the thing about micro-celebrities is that they're not free from attack. One of the reasons that celebrities go batty is that fame feeds into their narcissism, further heightening their sense of self-worth as more and more people tell them that they're all that. They never see criticism, their narcissism is never called into check. This isn't true with micro-fame and this is especially not true online when celebrities face their fans (and haters) directly. Net celebrities feel the exhaustion of attention and nagging much quicker than Hollywood celebrities. It's a lot easier to burn out quicker and before reaching that mass scale of fame. Perhaps this keeps some of the desire for fame in check? Perhaps not. I honestly don't know.
What i do know is that MySpace provides a platform for people to seek attention. It does not inherently provide attention and this is why even if people wanted 90M viewers to their blog, they're likely to only get 6. MySpace may help some people feel the rush of attention, but it does not create the desire for attention. The desire for attention runs much deeper and has more to do with how we as a society value people than with what technology we provide them." (http://www.zephoria.org/thoughts/archives/2007/03/17/fame_narcissism.html)
See her overview of Narcissism research.
Recommended blog commentary at http://www.zephoria.org/thoughts/archives/2007/03/17/fame_narcissism.html