Is Freemium Done?

In GigaOM: Freemium, the model of providing valuable, but limited in some way services free to attract large numbers of 'eyeballs' with the opportunity to up-sell, has been a wildly common and successful economic model.  Is the model done now, and will new models need more direct value exchange?   I was inclined to think so previously, but it seems to have become even more common.