The main thing is that changing standards are a great way for companies to make money. Standard consumerist tactics. The question is if the changes actually make any difference, once the seed of doubt is sowed in your mind that something is slightly better then there is a strong urge to go out and buy new stuff.
I have ordered a 29er but not built it up yet so I am as guilty/gullible as anybody else. In the mean time I am getting a lot better from riding more, building a pumptrack and jumps in the garden but this is making no one any money.
I think since the primary reason for me mountain biking is that it is fun then smoothing everything out is not so important. I ride my hardtail instead of my full suss as it is more fun.
The thing is that smaller wheels and frames will always be lighter, stiffer and stronger. These are the most important factors with a mountain bike that you ride hard up and down. I suppose this is the reason why dirt jump bikes have smaller wheels still and less suspension. I suppose if they can make a bigger wheeled bike as stiff, string and light as you need in the real world then this is not so important.
How much of 29ers going faster is the fact that if you run the same gear range as a 26er you are effectively running higher gears and therefore go faster?