Great question, Gary Rowell. I think it depends on how much the internet marketer knows. I do well as an internet marketer and my clients make money when I promote them on the internet.
The one mistake I see a lot of social media marketers make is that they try to market their clients on all the social networks instead of sticking with one or two and that causes burnout.
I have a hub on Social Media Burnout as well if you want to read it and comment on it.
As for me, I create Facebook applications that are ecommerce apps and facebook pages. My clients do well from those, but most internet marketers just don't know what they are doing.