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As a journalist I can see where you're coming from. But at the same time, the best validation of any blogger is whether their content is any good or not. You could judge that by their readership, or their time spent blogging, or you could judge it by their about page, or 5 latest posts.
Someone without any professional grounding could still be very insightful, if they spend every hour studying the media. That's more than most journalists actually do!
Many traditional journalists may, or may not have academic journalist qualifications, or professional qualifications. A press card simply shows you belong to an organisation, or you're employed as a journalist. And there are plenty of people who have faked or added to freelance contracts etc.
The only time I ever used my press pass/business card was in a situation where I had to gain immediate access/prove my identity quickly.
Is a blog on the WSJ guaranteed more traffic than that of an individual, for example?
Or is someone employed by the WSJ guaranteed to have more knowledge on a subject? More contacts? More links back from other blogs?
I wouldn't argue that every single blog is created equal, but I also wouldn't believe that every blog backed by a media company is guaranteed to be more worthy than every blog created by a private individual.
And where do you draw the line for professional media bloggers vs private? A professional magazine can have as little as 10,000 readers...
http://daringfireball.net/2008/03/kahney_jackass