Okay, to go along with the basic play of having blogs as an incentive, if you really think about it, besides the rep system, emblems, etc. blogs are just another benefit for supporters and active members here at the Community. I mean, rarely members get much reward at times and having your own space, your own blog can feel rewarding if you follow the criteria of obtaining one. So, it isn't a useless feature to the forums and neither is it taking up speed or space from the server. Therefore, I see it as being a no problem what so ever.
Blogs are a place for members to basically speak their mind, while on posts they cannot always do that. Blogs are for fun, and even for those who cannot make them, quite a few of them enjoy reading and responding to them. So, even those who cannot have a blog of their own for the time being still enjoy them. To tell you the truth, I've never heard a complaint about it until now, and like said above it may only be because of a slight jealousy perhaps? Whichever way, I don't see a need for it to be removed as it is fun for members and a place where they can express themselves and most importantly be who they are.